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Walmart to buy Bonobos for $310 mn

It's the retailer fourth e-commerce acquisition in less than a year

Reuters 

Walmart Stores Inc said it would buy online men's fashion retailer Bonobos Inc for $310 million in cash, the retailer's fourth e-commerce acquisition in less than a year. Bonobos' clothes and accessories will be offered on Walmart's Jet.com, the company said in a statement. Walmart's shares were down about 6% at $74.43 in morning trading on Friday, after online rival Amazon.com Inc said it would buy upmarket grocer Whole Foods Market. The world's biggest retailer has been working aggressively to close the gap with rival Amazon.com Inc under the ...

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First Published: Fri, June 16 2017. 19:55 IST
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