Walmart is reassessing its digital strategy. After shutting down Jet.com and selling off ModCloth, the retailer has confirmed that it is divesting two more digital brands: Bare Necessities and Shoes.com. Bare Necessities is being sold to an Israeli apparel maker, while Shoes.com is being acquired by a private equity firm. The move comes as Walmart focuses its attention and resources on Walmart.com, using its massive store fleet to support e-commerce. The efforts have paid off, especially as the coronavirus pandemic pushes more spending online.
As Walmart's digital sales explode amid the pandemic, it is moving quickly to revamp its previous revamp of its online business.