Doug McMillon, president and CEO of Wal-Mart Stores, and Mark Lore, co-founder and CEO of Jet.com, discussed Walmart’s acquisition of the online site and other industry topics on CNBC’s “Squawk Box.”
Walmart Pharmacy & Business News
Walmart Stores announced it will acquire retail start-up — and would-be Amazon rival — Jet.com for approximately $3 billion in cash.
At Walmart, Michelle Gloeckler led the merchandising strategies in areas including beauty and personal care, pets, household paper and chemicals, baby, over-the-counter, pharmacy and optical.
In this report, DSN examines sales activity in the healthy snack category, highlighting new products that are shaking up the consumables aisle.
In what may be a direct shot across Amazon.com's bow, Wal-Mart is in talks to buy rival Jet.com according to a CNBC report published Wednesday, citing Dow Jones. "Though it isn't clear how much the world's largest retailer would cough up for Jet, a personal familiar with the talks told Dow Jones that the website could be worth $3 billion, the organization reported Wednesday," the report stated. "Wal-Mart CEO Doug McMillon said at the company's shareholder meeting in June that it would soon become more aggressive in growing its online business." (CNBC)
More vitamins, minerals and supplements were sold online so far in 2016 than have been sold through a Walmart store, TABS Analytics reported earlier this year.
Sales of OTC medicines continue on a steady pace with dollar volumes up half a billion dollars over the first half of 2016, according to data culled from IRI.
Leading natural skin care brand California Baby is expanding distribution to more than 1,700 Walmart stores across the nation.
Influential and longtime Walmart executive Don Soderquist died after complications related to heart surgery. He was 82.