The stock price of Wal-Mart Stores, Inc [linkme to=”WMT”] has gone up by over 0.72% today till the late morning trading session. Since the close last Wednesday, the stock price of Walmart has gone down by over 3.23%. The stock closed at $68.54 on Friday.
The Arkansas based company is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores and grocery stores. The company was founded by Sam Walton in 1962 and incorporated on October 31, 1969. As of July 31, 2016, Walmart has 11,539 stores and clubs in 28 countries, under a total of 63 banners. The company operates under the Walmart name in the United States and Canada. It operates as Walmart de México y Centroamérica in Mexico, as Asda in the United Kingdom, as Seiyu in Japan, and as Best Price in India. It has wholly owned operations in Argentina, Brazil, and Canada. It also owns and operates the Sam’s Club retail warehouses.
According to sources, Walmart is kicking off its Cyber Monday deals three days early on Black Friday. After launching Black Friday discounts online on Thanksgiving, the retailer will release a fresh batch of online deals on November 25. Instead of referring to the second event as Cyber Monday, Walmart is calling it “cyber week,” since the deals will be available for a week starting Friday. (Walmart will also launch yet another round of deals on Cyber Monday).
Last year, the world’s largest retailer pulled up the “Cyber Monday” deals to the Sunday evening after Thanksgiving for the first time. Cyber Monday, which falls on the Monday after Thanksgiving, is typically the busiest day of the year for online shopping. The phrase was coined in 2005 by the National Retail Federation’s online arm, Shop.org, to encourage online buying when people returned to offices where they had high-speed Internet connections.
The retailer is launching cyber week deals earlier to showcase its newly expanded online offering. The company has nearly tripled its online assortment to 23 million products from 8 million last year in an effort to catch up to Amazon, which sells more than 353 million products (12 million directly and the rest from marketplace sellers). As a result, Walmart.com now carries many items that shoppers wouldn’t be able to find in a Walmart store, including products from brands like Michael Kors, Ray-Ban, and UGG.
To prevent customers from getting overwhelmed by all the new products, Walmart made improvements to its “recommendation engine,” which so far has led to a 20% increase in customer engagement with items the website recommends. It has also built a new software called Electrode that helps its web pages load 33% faster, according to Walmart.
Our analysts have given a “HOLD” rating to Walmart’ stock. Today’s increase is a positive sign after the big drop last week. Although it shows great potential, however due to the fluctuation, this is not the stock where you want to go all in on.