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Wal-Mart to buy Bonobos, but shares dip on Amazon-Whole Foods deal

Reuters 

By Sruthi RamakrishnanREUTERS - Wal-Mart Stores Inc said on Friday it would buy online men's fashion retailer Bonobos Inc for $310 million, in its fourth e-commerce deal in under a year, as it seeks to bridge the gap with e-commerce leader Amazon.com Inc.However, Wal-Mart's shares fell about 7 percent to $73.65 in morning trading after Amazon unveiled a $13.7 billion deal to buy upmarket grocer Whole Foods Market Inc .A slew of other retailers' shares also fell on the news, including shares of Kroger Co, Target Corp and Europe's Tesco Plc and Carrefour."When Amazon is serious, frankly, there ...

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First Published: Fri, June 16 2017. 21:06 IST
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