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Walmart Inc. (NYSE:WMT) shares are trading higher premarket Wednesday. On Tuesday, the retail giant announced several new initiatives ahead of the holiday season.
The initiatives include category expansion, multichannel fulfillment, and new features aimed at simplifying cross-market selling.
The company disclosed the expansion of the Premium Beauty, Pre-owned, and Collectibles categories.
Also, the retailer introduced Walmart Multichannel Solutions to fulfill orders from any e-commerce site and simplify product imports.
In particular, Walmart’s cross-border import service now allows Walmart Fulfillment Services (WFS) to transport full-container-load shipments directly from Asian ports to US facilities.
The company also launched Walmart LocalFinds for pickup and delivery from sellers’ physical stores.
Tom Ward, executive vice president and chief e-commerce officer at Walmart US, said: “We know the importance of personalized, seamless omnichannel experiences, and Walmart continues to advance its digital and fulfillment capabilities, including the new categories and features we announced today, that enhance the overall customer and seller experience on Walmart.com.”
This month, the company decided to sell its stake in JD.com Inc. (NASDAQ:JD).
This month, the retailer reported adjusted EPS of 67 cents (+9.8% Y/Y), beating the consensus of 64 cents. Sales were $169.34 billion, exceeding the consensus of $168.57 billion.
Investors can gain exposure to the stock via SPDR Select Sector Fund – Consumer Staples (NYSE:XLP) and Fidelity MSCI Consumer Staples Index ETF (NYSE:FSTA).
Price Action: WMT shares are up 0.11% at $76.21 premarket at the last check Wednesday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
