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Tags: walmart | buys | moosejaw

Walmart Buys Moosejaw, Outdoor Retailer, as It Expands Web Offerings

Walmart Buys Moosejaw, Outdoor Retailer, as It Expands Web Offerings

Walmart has acquired the outdoor clothing and gear seller Moosejaw for $51 million as it expands its online offerings. (Saul Loeb/AFP/Getty Images)

By    |   Thursday, 16 February 2017 08:46 AM EST

Walmart has bought fast-growing outdoor gear and clothing retailer Moosejaw as part of its plan to grow online offerings.

The purchase cost the retail giant $51 million for the popular website and 10 retail stores in Michigan, which it says it plans to keep open, The Associated Press reported.

Moosejaw sells more than 400 brands of items in its stores and online and has more than 350 employees, who will remain in Michigan.

The purchase is part of Walmart’s attempt to compete with online retailer Amazon, and the company hopes Moosejaw’s strong sales and industry relationships will help further that goal, the AP reported.

Walmart also bought Jet.com last year for $3 billion plus stock and acquired online footwear company ShoeBuy a few weeks ago.

After two years of slowing online sales, Walmart had a significant acceleration during the third quarter of last year, the AP reported. Fourth quarter results are not yet available.

It is expected that the addition of Moosejaw will expand the brands Walmart is able to sell, including The North Face, Patagonia, and others, Fortune reported.

“We gain the experience of another well-established e-commerce player, this time in the active outdoor category,” Walmart.com spokesman Ravi Jariwala said, Fortune reported.

Walmart plans to operate the site as a separate entity while integrating shipping, credit card fees, and processing charges, according to Fortune. It is a similar strategy to the one it deployed after acquiring Jet.com.

While Moosejaw has been rapidly growing, other outdoor gear outlets have been having a difficult time: Eastern Mountain Sports recently filed for bankruptcy, and Gander Mountain is also considering that move, Fortune reported.

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TheWire
Walmart has bought fast-growing outdoor gear and clothing retailer Moosejaw as part of its plan to grow online offerings.
walmart, buys, moosejaw
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2017-46-16
Thursday, 16 February 2017 08:46 AM
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