Credit: Shutterstock photoWal-Mart Stores, Inc.WMT is in the spotlight again with recent announcements of collaboration with H&R Block HRB and launch of DisposeRx.
H&R Block to Adorn Walmart's Products Lineup
Wal-Mart strives to ramp up its digital products portfolio, a strategy well in place with society's growing online dependency. Well, the company's latest venture of collaborating with H&R Block is another major stride toward augmenting offerings in this category.
Per the terms of the deal, Wal-Mart will provide H&R Block's DIY desktop tax software products across the company's outlets as well as online. The exclusive deal will enable H&R Block's DIY products to have easier and greater customer access, enabling clients to prepare taxes efficiently. Apart from being priced competitively, these products also provide facilities such as in-person audit representation, unlimited and free tax advices, along with protection against tax identity theft.
Looking back, Wal-Mart's efforts to build an impressive digital brand portfolio include buyouts of ShoeBuy, Moosejaw, ModCloth, and Jet.com. The company has also been successful at developing easy and convenient delivery solutions through its new Mobile Express Returns program and the buyout of Parcel, Inc. In fact, Wal-Mart's efforts to enhance delivery services resonate with its strategy of growing online grocery sales. Moreover, Wal-Mart also struck a deal with Lord & Taylor to launch a flagship store in spring 2018, which will help the company to offer premium fashion brands on its shopping website, directly sourced from the latter.
DisposeRx : A Unique Solution for Reducing Drug Abuse
When it comes to revolutionizing the retail spectrum and offering products for a quality lifestyle, Wal-Mart is among the trendsetters. This is evident from the company's latest innovation, The DisposeRx solution. The DisposeRx contains ingredients that destroy unused pills by converting the same into a biodegradable gel. This unique product will aid patients to safely dispose leftover medications and effectively counter misuse of prescription opioids. Prescription narcotics are often unused and pose major health risk to those who come in its contact. Patients can request for a free DisposeRx packet across Wal-Mart's pharmacy outlets in the U.S., including Sam's Club pharmacies. The introduction of DisposeRx indicates the company's willingness to develop a responsible society and fight drug abuse.
Wrapping Up
That said, Wal-Mart's business expansion efforts and strategic growth plans are quite commendable, aiding it to emerge strongly in an industry characterized with stiff competitive pressures and aggressive promotions. Most importantly, such endeavors keep this retailer alive and active to match the rapid pace with which Amazon AMZN has been capturing retail market share. Like Wal-Mart, other major retailers such as Target TGT and Kohl's have also been augmenting their e-commerce and omni-channel offerings to stay afloat in the industry.
While Wal-Mart's stock didn't react much to the aforementioned announcements, the company's constant endeavors to drive performance have been positively impacting investor's optimism. Evidently, shares of the company surged 47.8% in a year, cruising ahead of the industry 's rally of 37.8%. All said, we expect the latest developments to add new leaves to this Zacks Rank #3 (Hold) company's growth story.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
