BENTONVILLE, AR – What’s in a name? For Walmart Inc., the retailer formerly known as Wal-Mart Stores, Inc., a lot is at stake in it. The chain announced plans to change the company’s legal name to one word, without the dash or the “Stores” in tow. By shifting the name’s direction, the company is hoping to reflect its focus on streamlining customers’ in-store, online, mobile device, pick-up, and delivery experiences.
“Our customers know us as Walmart and today they shop with us not only in our stores, but online and with our app as well,” said Doug McMillon, Walmart president and CEO, in a recent press release from the retailer. “While our legal name is used in a limited number of places, we felt it was best to have a name that was consistent with the idea that you can shop us however you like as a customer. Looking ahead, we’ll continue to invest in and strengthen our stores around the world and expand our eCommerce capabilities as we help save customers’ time and money. As time goes on, customers will increasingly just think of and see one Walmart.”
Walmart is the umbrella company for nearly 60 different banners located throughout the world. Some of these include eCommerce sites, while others account for more than 11,600 stores and clubs within its 28-country reach. Walmart launched its first international location in Mexico City in 1991, and introduced Walmart.com in 2000.
Wal-Mart, Inc. was the launching point for the company, which registered under this name in 1969, before incorporating the “Stores” at the end of its title in 1970. The name has not legally changed since 1970’s transition, but the organization has been using its current Walmart logo for its operations and services since June of 2008. While the change might throw some loyal customers off at first, consumers and investors can rest assured that the company will continue to trade on the NYSE as WMT and the company’s name should reflect "Walmart."
Will the retailer’s newly rebranded name pay off in the long haul, continuing to launch sales upward and promote its innovative industry prowess? AndNowUKnow will continue to report with the latest.
