Walmart Changing Legal Name in Nod to Digital Focus6 Dec, 2017 By: Erik Gruenwedel
Walmart may be the world’s largest brick-and-mortar retailer with more than 11,600 stores in 28 countries, but Feb. 1, the Bentonville, Ark.-based giant drops “Stores” from its legal Wal-Mart Stores, Inc. name, changing it to Walmart Inc.
The name change is designed to underscore Walmart’s growing focus on e-commerce, shipping, deliveries and traditional retail, according to CEO Doug McMillon.
“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,” McMillon said in a statement.
Through Oct. 31, Walmart generated $232 billion in domestic retail revenue (excluding Sam’s Club). The company expects domestic e-commerce revenue to grow 40% in fiscal 2019.
When first incorporated Oct. 31, 1969, Walmart’s legal name was Wal-Mart. This changed to Wal-Mart Stores Jan. 9, 1970, and has remained for the past 47 years. The company has been using the current Walmart logo since 2008.
The company opened its first international location in Mexico City in 1991 and launched Walmart.com in 2000. Walmart will continue to trade on the New York Stock Exchange (WMT) and should be referenced simply as Walmart, according to McMillon.
“We’ll continue to invest in and strengthen our stores around the world and expand our ecommerce capabilities,” he said. “As time goes on, customers will increasingly just think of and see one Walmart.”