Friday, March 17, 2017

Wal-Mart to scoop up another Online Retailer

Wal-Mart will reportedly scoop up another online retailer.

According to Jezebel fashion blog, Jet.com on Thursday will ink a deal with Modcloth, an eclectic women's fashion brand known for serving curvy customers.

Jezebel obtained a recording of Modcloth CEO Matthew Kaness telling employees about the deal, which will be announced publicly on Friday, the publication said.

A spokesman for Wal-Mart, Jet's parent, declined to comment on the story. A representative for Modcloth did not respond to CNBC's request for comment.

Yet if a deal for the were to go through, it would be the latest in a spate of purchases by Wal-Mart. In a bid to close the gap with Amazon, the world's largest retailer began its buying spree with the $3.3 billion acquisition of Jet last year.

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1 comment:

Anonymous said...

Walmart will never close the gap between themselves and Amazon. The quality of service between the two retailers is insurmountable. Amazon leads the pack and are improving and refining their ordering and delivery systems daily. Walmarts online presence and e-store front is amateurish at best.
I'm not an Amazon fan but they do what they do better than anyone else. Period.