Walmart changes legal name to reflect retail strategy
Walmart is to change its legal name from Wal-Mart Stores, Inc to Walmart Inc, effective from 1 February, 2018.
CEO Doug McMillon says the move better reflects the company's path to win the future of retail.
Reflecting its growing status as an omni-channel retailer, US retail giant Walmart is to change its legal name from Wal-Mart Stores, Inc to Walmart Inc in the New Year.
According to the company, the move chiefly demonstrates its growing emphasis on serving customers seamlessly however they want to shop: in stores, online, on their mobile device, or through pickup and delivery.
In a blog post yesterday (6 December), CEO Doug McMillon said: "Changing our corporate name to Walmart is a way of better reflecting our company's path to win the future of retail."
The name change will be effective from 1 February 2018.
"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," explains McMillon. "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 with 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 e-commerce capabilities as we help save customers' time and money. As time goes on, customers will increasingly just think of and see one Walmart."
Walmart operates under nearly 60 different banners around the world, including e-commerce sites, and has more than 11,600 stores and clubs in 28 countries. The company opened its first international location in Mexico City in 1991 and launched Walmart.com in 2000. It will continue to trade on the NYSE as WMT and the company name should be referenced as Walmart.
Walmart's formal legal name when it incorporated on 31 October 1969, was Wal-Mart, Inc. It was changed to Wal-Mart Stores, Inc, on 9 January 1970 and has remained in place the past 47 years since Walmart went public that same year. The company has been using the current Walmart logo in its operations since June 2008.