When a movie or TV show needs stacks of cash for a scene, they don’t usually withdraw millions from the bank and hope no one walks away with it. Instead, they use prop money that will pass for the real thing on camera, but that any cashier with eyes would immediately notice is fake. So when some Walmart shoppers in Georgia managed to buy $1,000 of stuff with fake movie money, police were suspicious about the cashier’s involvement. [More]
Walmart’s recent $3 billion acquisition of e-commerce company Jet.com may have been the retailer’s way of spurring its online business, but the largest retailer in the world has already been mingling its physical stores with its online presence. Much like fellow big box store, Home Depot, Walmart has increasingly used its vast network of stores to fulfill online purchases. [More]
Days after Target terminated its relationship with one of the world’s biggest textile manufacturers after finding the company supplied the retailer with nearly a million sheet sets labeled as “Egyptian Cotton” that were actually made from non-Egyptian cotton, Walmart says it’s reviewing Welspun India’s records and cotton certifications. [More]
It’s no secret why Walmart bought Jet.com for $3 billion: the company’s e-commerce know-howo and experienced could be the key to the brick-and-mortar retailer’s plans of catching up with Amazon, finally, after all these years. But now that the honeymoon is over, it’s time to look at how, exactly, this marriage will work. [More]
This week, both Target and Walmart released their quarterly financial results. Based on the results and executives’ comments on those reults, it’s almost like they’re from two different quarters or years entirely, or at least not from two discount stores that are generally close competitors. Maybe it’s not that shoppers are clutching their wallets or spending on home renovations instead of everyday home goods, a Target speculated. Maybe Target’s shoppers are just heading to Walmart more often. [More]
Walmart just shared its quarterly results with investors and with the world, and its sales and profits are up. Great news! Only a lot of the chain’s profits have come because of aggressive cost-cutting, and its cutbacks in security have meant increases in petty and violent crimes that can be a burden on local law enforcement. [More]
What happens when a monkey gets loose in a Walmart parking lot and jumps a store employee? Someone catches the whole thing on video, that’s what happens, and the Internet goes crazy.
Following the crash of the housing market nearly ten years ago, some big box stores that had previously only dabbled in groceries started to give over more floor space to fresh and frozen foods. Walmart shoppers took to the idea of buying their food in the same store they purchase their TV, cleaning supplies, underwear, sporting goods, and just about anything else. Across the parking lot at Target, things aren’t as rosy. [More]
E-commerce companies don’t have to collect sales tax from customers who live in states where they have no physical presence, which could be anything from their headquarters to a distribution center. That’s been one of the advantages that Jet has had in the marketplace over its chief rival Amazon, which has facilities in 28 states, including the most populous ones. Jet customers in most states don’t have to pay sales tax. However, that could change soon, after Walmart’s acquisition of the young e-commerce company. [More]
When the CEOs of Walmart and of Jet met for the first time, they fell in corporate love. The two men couldn’t stop envisioning the future of their companies together, sketching out their dreams of combining Walmart’s inventory and supplier relationships and Jet’s e-commerce algorithm. The companies announced their engagement this week, and Walmart CEO Doug McMillon explained what it was he ever saw in the startup, which has barely been selling to the public for a year. [More]
Back at the beginning of 2015, before it launched to the public, e-commerce site Jet used a contest to encourage people to refer others to the site. The winner was a Pennsylvania man who spent $18,000 on online ads, recruiting new Jet users through sites like Facebook and Swagbucks. He received 100,000 shares in the company, which he couldn’t cash in until the company went public or were sold. Today, the company announced that Walmart acquired it for $3.3 billion. [More]
The Oklahoma Walmart Bee Invasion began with a routine transaction. No, Walmart isn’t selling bees now: two beekeepers met up in the store’s parking lot to complete the sale of three hives of around 10,000 bees each in a public place. Instead, the bees got loose, stinging people in the parking lot. Three people had severe enough problems that they were transported to the hospital. [More]
Getting an email from a retailer telling you to reset your password because you may have been the victim of a data breach is alarming enough. Imagine you’re one of the Walmart.com shoppers who say they have received dozens of emails directing them to reset their login credentials.
How seriously should retailers take loss prevention? Back in February, a Florida man in his 60s filled a cart with DVDs in the wee hours of the morning, What was different from most incidents was that store employees chased him and pinned him to the ground until police arrived. He was later pronounced dead at the hospital, and police are done investigating the incident, charging the three employees who chased and restrained him with manslaughter. [More]