Walmart launches largest private grocery brand in decades [FOX Business Network]
Walmart Inc. (WMT)
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Source: FOX Business Network
Walmart announced Tuesday that it is launching its largest private food brand in decades to lure in more cost-conscious shoppers. The brand, Bettergoods, will encompass 300 items including frozen, dairy, snacks, beverages, pasta, soups, coffee and chocolate, the Arkansas-based retailer said. All the items will cost between $2 and $15; "most products" will be priced under $5, Walmart said. To set itself apart, Walmart touted that Bettergoods isn't a direct alternative to national brand offerings but rather "unique" to Walmart, including specialty salts and seasonings, like Hot Honey Seasoning, or jar soups, including our Creamy Corn Jalapeno Chowder. The company already has two private labels, Great Value and Equate, which are lower-cost alternatives to national brand products. Walmart CEO Doug McMillon told analysts on an earnings call in February that "private brand penetration is up in many of the countries where we operate, including the United States." Mary Ellen Lync
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- 5/16/24 - Beat
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Sec Filings
- 5/16/24 - Form 8-K
- 5/9/24 - Form 4
- 5/7/24 - Form PX14A6G
- WMT's page on the SEC website