By Leslie Cohen: Managing Editor CWEB
Walmart Has Filed Six Patents For Agricultural Drones – CWEB.com
The patents could signal that Walmart (WMT) is looking to have more control over its food supply chain.
Walmart (WMT) , the grocery store and retail giant have filed six patents for agricultural drones. Utilizing the patented technology of drones can make Walmart become more productive farming of crops, which making it more technological advanced for efficiency, and respectively towards more profitability. As consumers demand more fresh and healthy food choices, the drones can track pests and monitor crop damage in the fields. The patent reveals a method for drones to selectively apply chemicals and help disperse pollen- built specifically only where it is needed.
Food retail analyst says that the technology could help Walmart compete with Amazon and others that offer groceries. Walmart efforts to compete against Amazon in the on- demand delivery market are succeeding. Walmart is taking bold steps to give consumers what they want- low prices, big selections along with delivery services. Grocery delivery is available in 1200 of its stores across the USA. In NYC it offers same day delivery.
Walmart (WMT) is in negotiation to take a third of the Flipkart Online Services Pvt by purchasing a stake from its biggest shareholders, Tiger Global Management and SoftBank Group Corp. (SFTB) SoftBank Group Corp.80.84-1.42%. If Walmart takes stake to spend about $7 billion to make the deal proceed forward, Flipkart, the Indian startup would be valued at almost $20 billion.
While Walmart (WMT) looks to compete against Amazon’s private label foray into clothing, Walmart has introduced four new clothing collections. The new lines will have a women’s and men’s collection, a children’s collection, and a plus size women’s collection.
SVP of Walmart (WMT) U.S apparel Deanah Baker said in a press release, “We listened to our customers and are proud to deliver apparel choices that meet at the intersection of everything they desire: on-trend styles, comfort and quality, all at unbeatable prices,” These new brands are a thoughtful reflection of current trends and styles, while considering our customers’ busy, on-the-go lifestyles.”
As of March 16th, 2018 Walmart closed at 89.47 and was up respectively +0.30 +0.34% with a trading volume of 1.27 million.
Walmart (WMT) competitors are:
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Overstock (NASDAQ:OSTK) which trades $60
Dillards (NYSE:DDS) which trades $88
Nordstrom (NYSE:JWN) which trades $52
Macys (NYSE:M) which trades $30
Gap (NYSE:GPS) which trades around $34
LVMH Moet Hennessy (OTCPK:LVMUY) which trades around $60
Kohls (KSS) which trades around $63
BABA (NYSE:BABA) which trades around $180
Amazon ( NASDAQ:AMZN) which trades around $1500
CWEB Analyst’s have initiated a Buy Rating for Walmart (WMT)
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