Wal-Mart Takes the Holiday Fight to Amazon
Wal-Mart (NYSE: WMT) vs. Amazon (NASDAQ: AMZN) has become the retail version of a heavyweight boxing title fight. The two companies clearly dominate all other rivals, but when matched up together, it's unclear which one will win.
For a long time, Amazon was the relentless contender moving steadily on what seemed like an inevitable march to the title. At the same time, Wal-Mart looked like a cagey, old veteran hanging on, but heading for an inevitable fall.
That changed in October 2016 when Wal-Mart spent $3.3 billion buying Jet.com and installing its CEO, Marc Lore, as head of all of its digital operations. That deal was questioned at the time, but it has proven to be transformative for the established retailer.
Source: Fool.com
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