CHECKOUT COUNTER: What’s in a name
Walmart is changing its official name from Wal-Mart Stores to Walmart from February 1 next year
Walmart is changing its official name from Wal-Mart Stores to Walmart from February 1 next year. The move, by the world’s biggest retailer (which has 11,700 stores) underlines its strategy shift from being a purely store-based and traditional operator towards its e-commerce aspirations as it takes on rival Amazon.
2. AB InBev orders Tesla electric trucks
In a bid to cut fuel costs and emissions, brewer AB InBev has reserved 40 of Tesla’s heavy-duty Semi electric trucks. The trucks, which will not be available until 2019, can drive 800km on a single charge. AB InBev will use them for shipments to wholesalers within 250-320km of its brewery locations.
3. Nike set to move to new premises
Nike has announced it is building a new flagship store in New York’s famed 5th Ave shopping district. Its current space, a five-floor store called Niketown, is managed by the Trump Organization. Nike’s move is motivated partly by its strategy to focus on experimental and modern retail. The brand’s store, in the city’s Soho neighbourhood, has places to play soccer and shoot hoops.
4. Unilever fined over ice cream market abuse
Italy’s antitrust agency has imposed a €60m fine on Anglo-Dutch consumer goods company Unilever for abusing its dominant position in the market for packaged ice-cream through the Algida brand. Unilever says it will appeal. Italian authorities began the probe in 2013, when La Bomba, a small producer of organic fruit lollies, accused Unilever of forcing local retailers not to sell its popsicles.