Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
(Page 2 of 2)
During the day-long briefing, Wal-Mart executives also disclosed:
- A test of a new home page at Walmart.com that will offer three tabs designed to meet three shopping goals: shopping online, product research and store information.
- Plans to expand its Scan and Go system that lets store customers to use their mobile phones to scan the bar codes of items as they shop, then check out with their phones. Wal-Mart has purchased 10,000 new self-checkout systems that will enable it to offer Scan and Go in 1500-1800 stores soon, and 3000 by the end of the year.
- Thousands of customers have used the same-day and next-day delivery service Wal-Mart has been testing, charging $10 for delivery. The retailer disclosed no plans to expand the test, but noted that, with a Wal-Mart store within five miles of two-thirds of the U.S. population it is well placed to offer fast delivery of online orders from its 4000 U.S. stores.
- That all online sales are attributed to stores, in a bid to ensure store employees are incented to place online orders when a store does not have an item. The formula for allocating web sales is complex, but stores essentially are rewarded for exceeding sales goals.
- 12% of Walmart.com sales through mobile devices come when a shopper is in a Wal-Mart store using Store Mode, part of the Wal-Mart mobile app that recognizes when a registered customer is in a Wal-Mart store.
- Over half of customers who have tried Scan and Go have used it again. The test recently expanded from 70 stores in two markets to more than 200 stores in over 10 markets.