In this file:
· Walmart+ gains traction 5 months after launch
· Walmart completes sale of Asda
Walmart+ gains traction 5 months after launch
Maria Monteros, GroceryDive
Feb. 16, 2021
o Five months after Walmart's membership program, Walmart+, was released, data indicates that it has garnered between 7.4 million and 8.2 million members, signaling a promising start for a potential Amazon Prime rival, according to Consumer Intelligence Research Partners analysis released last week.
o Customers spend an average of $1,000 at Walmart.com per year, which is "remarkably similar to the long-term figure for Amazon," said Josh Lowitz, partner and co-founder of CIRP.
o Walmart+ members currently account for about 13% to 14% of total Walmart.com shoppers as of Jan. 30, per the report.
Walmart has been steadily building out its ecosystem throughout the pandemic, developing new revenue streams to drive sales and giving shoppers alternative fulfillment options. And based on the new CIRP data, this strategy seems to be bearing fruit.
The big-box retailer took over Amazon's spot as the top grocery e-commerce platform...
Walmart completes sale of Asda
By Marianne Wilson, Chain Store Age
Walmart Inc. has finalized the acquisition of its U.K. supermarket chain.
Walmart has completed the sale of Asda Group Ltd. to the Issa brothers and investment funds managed by UK private equity firm TDR Capital. The deal had an enterprise value of £6.8 billion (approximately $8.8 billion) on a debt-free and cash-free basis.
The Issa brothers are the founders and co-CEOs of EG Group, a global, U.K.-based convenience store retailer, which has more than 6,000 locations. (In 2019, EG Group completed its acquisition of U.S. c-store chain Cumberland Farms, bringing its U.S. footprint to 1,680 c-stores and gas stations across 31 states.)
As previously reported, under the new ownership structure...
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