Walmart to launch Meal Kit Business

Published on: 05 Mar, 2018

Walmart Inc. (NYSE: WMT) on Monday announced to roll out its meal kits service to more than 2,000 stores this year.

The company said the meal will serve two people and range in price from $8 to $15. The new service is now available in more than 250 stores. The meals will also be available via Walmart’s Online Grocery Pickup where customers can order online at lunch and pick up as soon as dinner time.

“Customers are busier than ever and we know getting a delicious dinner on the table can be a chore. We’re here to help,” said Tyler Lehr, senior vice president and general merchandise manager, Deli Services, Walmart U.S. “These delicious meals give the best or worst of cooks a fresh, easy option for dinner tonight, or later this week.”

Walmart shares rose 0.64 percent to $89.30 in the early trading on Monday. The stock was down more than 14 percent since it reported a slowdown in its online sales growth last month.

Walmart reported online sales grew 23 percent in the fourth quarter. Walmart has been investing heavily in its online grocery business in the recent years to better compete with e-commerce giant Amazon.com, Inc. Amazon has acquired Whole Foods for $13. Billion last year and it announced to provide grocery delivery service from Whole Foods via its Prime last month.

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Marco Zhou

Email: Marco@financialinsiders.com

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