TELETRADER News
10/19/2017, 3:42 PM (Source: TeleTrader)
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Report: Walmart building online shopping mall

The so-called Amazon effect, shift to online sales, prompted Wal-Mart Stores Inc. to consider tapping on its portal's value by adding a section for Lord and Taylor Holdings LLC, the Wall Street Journal said it learned from an unnamed source. The article published on Thursday indicated the department store operator controlled by Hudson's Bay Co. could be the first member of a pool planned for an online mall.

Other possible retailing names in the project are Walmart's own Bonobos LLC and Jet.com Inc., said the person familiar with the matter. The report cites the company's initiative to create a coalition to counter Amazon.com Inc. Lord and Taylor's customers could be given the ability to pick up and even return products at Walmart's stores, the news outlet adds.

Baha Breaking News (BBN) / IT