While the 'Walmart' branding can be seen on its stores even today, the American retail giant has said that the company will change its name officially.
Ending a 47-year-old tradition, Wal-Mart Stores have decided to officially change its name to "Walmart" by taking out the hyphen. The company will also remove the word "Stores" from its name, according to a report by USA Today.
While the 'Walmart' branding can be seen on its stores even today, the American retail giant has said that the company will change its name officially on February 1, 2018.
Doug McMillon, Walmart's president and CEO, said in a statement, "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 us however you like as a customer. As time goes on, customers will increasingly just think of and see one Walmart."
The company had added the word "Stores" to its name just three months after it was incorporated in October 1969.
Why the name change?
The move is being seen by analysts as an e-commerce push by the retail giant. Analysts say that while its rival Amazon dominates the online space, Walmart is becoming a fierce competitor by steadily increasing its offerings and online partners.
The retailer has been acquiring businesses to help bolster its e-commerce presence. In 2016, it acquired Jet.com, which had acquired brands like Hayneedle.com, ModCloth.com and Shoebuy.com earlier.Earlier this year, Walmart acquired Moosejaw, an online active outdoor retailer, which brought with it more than 400 brands.