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Walmart (NYSE: WMT) is the latest blow to the home delivery war in the retail sector.
"Free shipping in one day … no membership fees. It's now revolutionary. Stay tuned" tweeted the distribution giant yesterday after the market closed.
Walmart tease follows the disclosure by Amazon (NASDAQ: AMZN) during its call for results that she plans to launch the Prime Expedition one day this year as part of a significant investment in the company's internal delivery infrastructure.
The announcement of Amazon sent the shares of Target (NYSE: TGT) down 5.7% Friday and Walmart down 1.9%. Also in the mix, FedEX (NYSE: FDX) lost 2.6% and UPS (NYSE: UPS) lost 1.1% as investors assessed the potential impact on shippers.
The willingness of Amazon and Walmart to invest heavily in a one-day expedition could also increase pressure on other retailers such as Macy's (NYSE: M), Nordstrom (NYSE: JWN), Best Buy (NYSE: BBY), Office Depot (NASDAQ: ODP) and Dick's Sporting Goods (NYSE: DKS) seek to follow.
Previously: The main customer of Amazon enjoying a one day shipping – call on the results (April 25)
Previously: the retail sector is disrupted by the Amazon shipping movement (April 26)
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