(AP) – Wal-Mart has acquired the outdoor clothing and gear seller
Moosejaw for $51 million as it expands its online offerings.
The cash deal was announced Wednesday. Wal-Mart says Madison Heights,
Michigan-based Moosejaw, which is largely online and sells more than 400 brands,
will keep operating its site and stores. Its 350-plus employees will stay based
in Michigan.
Wal-Mart, which is trying to better compete with online leader Amazon.com,
says buying Moosejaw gives it the experience of another well-established
e-commerce player with strong industry relationships.
Bentonville, Arkansas-based Wal-Mart also purchased online marketplace Jet.com
last year for $3 billion in cash plus $300 million in stock. Wal-Mart’s online
sales had been slowing over the past two years but notably accelerated during
last year’s third quarter. It reports its fourth-quarter results next week.
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