Walmart Changing Its Legal Name In Shift To Online Shopping
NEW YORK (AP) - Wal-Mart Stores Inc. is changing its legal name effective February 1, as it shifts away from physical stores in the age of Amazon's increasing dominance.
The world's largest retailer, based in Bentonville, Arkansas, said Wednesday it will change its legal name to Walmart Inc. from Wal-Mart Stores Inc.
It said the move underscores its growing emphasis toward online services and mobile shopping. It operates more than 11,600 stores and clubs under 60 different banners worldwide.
The discounter's formal legal name when it incorporated on Oct. 31, 1969 was Wal-Mart Inc. It was changed to Wal-Mart Stores Inc. on Jan. 9, 1970, the same year it went public. It will continue to trade on the NYSE as WMT. It's been using the current Walmart logo in its operations since June 2008.
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