The founder of Bonobos, Andy Dunn, is leaving Walmart, roughly two years after the company acquired the online apparel retailer and he joined to help grow its e-commerce operations.
As a result, some view Walmart's acquisition strategy as yielding mixed results. The big-box retailer's e-commerce business is still losing money, and some of its acquisitions, including Bonobos, remain unprofitable,However, the robust gains in its grocery business, which is partially online, are helping it to offset some of those losses. And it has learned lessons from these brands, which has made it a savvy digital competitor.
Walmart shares, which have a market value of nearly $340 billion, have climbed a little more than 28% this year.When I joined Walmart in the summer of 2017, my goal was to leave the company better than I found it. With my last day coming up early next year, it's time to take stock. I learned about the enormous power of a culture built with a singular focus: the customer. While I thought I understood it, I didn't. Walmart is obsessed with delivering a better life for its core customers. The motto is everywhere, written in four simple words: save money, live better. That mandate has expanded to saving the customer time. Sam Walton's customer focus is printed indelibly on the company, from the sayings on the walls to the last sentence of the famous Walmart cheer.
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