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Walmart is dropping the word “stores” from its title, as the 55-year-old retailer pushes further into ecommerce.
Starting in February 2018, the company will shorten its name from “Wal-mart Stores, Inc.” to “Walmart Inc.”.
The change is a “symbol of how customers are shopping us today and how they’ll increasingly shop us in the future,” said Doug McMillon, chief executive.
“Changing our corporate name to Walmart is a way of better reflecting our company’s path to win the future of retail,” he added.
Walmart, which has more than 11,700 physical stores across the globe, has been investing heavily to catch up with Amazon online. The company expects online sales to grow 40 per cent to $11.5bn for the fiscal year to January — although this remains a relatively small portion of its total sales, which were $486bn last year.
However Amazon’s dominance has also increased: the Seattle-based retail giant is set to make 44 cents of every dollar spent online this year, up from 38 cents last year.