Walmart on Wednesday announced it will change the company’s legal name from Wal-Mart Stores, Inc. to Walmart Inc effective February 1, 2018.
Walmart said it is changing its legal name as the company looks to emphasize its shift from a company that sells in stores to one that sells online and off.
“While our legal name is used in a limited number of places, we felt it was best to have a name that was consistent with the idea that you can shop us however you like as a customer,” said President and CEO, Doug McMillon in a statement.
The move is being seen by analysts as an e-commerce push by the retail giant. Analysts say that while its rival Amazon dominates the online space, Walmart is becoming a fierce competitor by steadily increasing its offerings and online partners.
It said the move underscores its growing emphasis toward online services and mobile shopping. It operates more than 11,600 stores and clubs under 60 different banners worldwide.