Walmart Inc. Add to portfolio

MEXICO CITY (Reuters) - Walmart's Mexico unit has begun offering grocery delivery from its Superama stores via messaging service WhatsApp, the retailer said on Monday, in a new stab at attracting shoppers outside bricks-and-mortar supermarkets. WhatsApp, the free text-messaging service owned by social media platform Facebook, is ubiquitous throughout Mexico. Superama shoppers can text an order to a WhatsApp number run by Walmart, known in Mexico as Walmart de Mexico. The representative said Superama charges 49 pesos ($2.55) for delivery within 90 minutes, or 39 pesos ($2.03) for a later delivery time, and would accept payment in cash or by card upon delivery. Walmart's plan to buy Cornershop, which operates in Mexico and Chile, for $225 million, was blocked earlier this month by Mexico's competition regulator, which said that Walmart could not guarantee an even playing field for rivals also using the app.

Read Full Details

MEXICO CITY, June 24 (Reuters) - Walmart's Mexico unit has begun offering grocery delivery from its Superama stores via messaging service WhatsApp, the retailer said on Monday, in a new stab at attracting shoppers outside bricks-and-mortar supermarkets. WhatsApp, the free text-messaging service owned by social media platform Facebook, is ubiquitous throughout Mexico. Superama shoppers can text an order to a WhatsApp number run by Walmart, known in Mexico as Walmart de Mexico. The representative said Superama charges 49 pesos ($2.55) for delivery within 90 minutes, or 39 pesos ($2.03) for a later delivery time, and would accept payment in cash or by card upon delivery. Walmart's plan to buy Cornershop, which operates in Mexico and Chile, for $225 million, was blocked earlier this month by Mexico's competition regulator, which said that Walmart could not guarantee an even playing field for rivals also using the app.

Read Full Details

Edward Yruma maintained an Overweight rating on Walmart with a price target lifted from $120 to $125. Flipkart acquired PhonePe in 2015 and Walmart took a 77% stake as part of the acquisition, Yruma said in a Monday note. Digital payments at Indian physical retail stores are modeled to grow at a compounded annual growth rate of more than 20% through 2023, from $65 billion to $135 billion, Yruma said. Walmart should be able to leverage its expertise in managing a large offline business to the Indian market, the analyst said. If the digital payment space in India grows as expected, Bentonville's stake in PhonePe could be worth $14 billion in the medium-term, which would be close to what it paid for Flipkart, according to KeyBanc.

Read Full Details

The stock market got out to a quiet start on Monday morning, as investors tried to remain patient as they waited to see what would come from the G-20 meeting in Japan later this week. There's still plenty going on in the business world as companies vie to compete against traditional rivals and upstarts in related industries. For Caesars Entertainment (NASDAQ: CZR), an acquisition bid from Eldorado Resorts (NASDAQ: ERI) will create a gaming industry giant with plenty of risk. Meanwhile, Walmart (NYSE: WMT) faced a legal attack from an unlikely source, as airline JetBlue Airways (NASDAQ: JBLU) took issue with the name of a service the retail giant has launched. Eldorado estimated the total value of that package at $12.75 per Caesars share, and it means that the acquirer will have to come up with $7.2 billion in cash as well as offering 77 million new common shares.

Read Full Details

Walmart Inc.'s Sam's Club is now delivering alcohol, including wine, beer and spirits, via Instacart in select markets across states, including Florida, California and Missouri, the company said Monday. Consumers can get same-day delivery of alcohol alongside their groceries with plans to expand the service to additional locations in the coming months. Walmart shares were up 0.2% Monday, and hae gained 19.5% in 2019 to date, while the Dow Jones Industrial Average , which counts Walmart as a member, has gained 15% and the S&P 500 has gained 18%.

Read Full Details

NEW YORK (Reuters) - JetBlue Airways Corp has sued Walmart Inc for trademark infringement, after the world's largest retailer began using the name Jetblack for its text-based personal shopping service. In a complaint filed on Friday night in Manhattan federal court, JetBlue called Jetblack a "transparent attempt" by Walmart to capitalize on the goodwill associated with the carrier's trademarks. JetBlue also said Jetblack was likely to cause "significant consumer confusion" as Walmart expands the service, and warned that Walmart intends further infringements by using additional "Jet+color" names such as Jetgold and Jetsilver. Walmart launched Jetblack in part to help the Bentonville, Arkansas-based retailer expand beyond its brick-and-mortar base and compete with such services as Amazon.com Inc's Amazon Prime, especially among consumers in urban areas.

Read Full Details

Today's Pickup: Standing Out As A Shipper Of Choice; Underestimate Walmart At Your Own Risk. That's a good thing because it means shippers are grasping the importance of working fairly and intelligently with their providers. But as Chris Jones, executive vice president at logistics provider Descartes Systems Group writes in Logistics Viewpoints, it presents a new challenge: How do you differentiate yourself in securing quality transportation capacity when everyone else is doing the same thing? "If any retailer will win any logistics race it will be Walmart Inc (NYSE: WMT). They have been doing this since day 1." Platform-based business models will transform B2B supply chains in ways more profound than the emergence of third-party logistics providers a generation ago.

Read Full Details

The latest sell-off, however, is not Binny Bansal`s first monetisation of his equity holding in 12-year-old Flipkart. Bengaluru: Binny Bansal, the co-founder of India`s leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76.4 million (Rs 531 crore) to world`s retail giant Walmart`s Luxembourg entity FIT Holdings SARL, business intelligence platform Paper.vc said on Monday. Though the other co-founder Sachin Bansal exited Flipkart when Walmart bought controlling stake (77 per cent) in it for a whopping $16 billion on May 9, 2018, Binny stayed on to lead its management team. "Binny`s holding fell to 63,53,838 shares post-acquisition from 74,76,271 in pre-acquisition. Our assessment is he sold 11,22,433 shares of his for $159 million when Walmart took over Flipkart," the statement added.

Read Full Details

Parent's Choice baby formula sold at Walmart recalled, may contain metal. Perrigo Company plc has issued a voluntary recall on one of its infant formulas because one lot may contain pieces of metal. The product in question is the 35-ounce containers of Parent's Choice Advantage Infant Formula Milk-Based Powder with Iron, which is only sold at Walmart. Consumers who may have purchased the product should look for lot code C26EVFV with a "use by" date of Feb. 26, 2021, which can be found on the bottom of the product, according to Perrigo.

Read Full Details

The retailer has confirmed to Business Insider that it's using camera-based computer vision tech to deter theft and losses at its checkouts (including self-checkouts) in over 1,000 stores. The simply titled Missed Scan Detection program notifies attendants if an item moves past a scanner without an actual scan, giving staff a chance to step in. Most of the incidents are unintentional, such as forgetful shoppers or fatigued cashiers, but Walmart is clearly hoping this will deter thieves hoping to make off with unscanned items.

Read Full Details