Walmart & Shopify Team Up
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 15 June 2020
⏱️ 16 minutes
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Summary
Walmart partners with Shopify to expand its 3rd-party marketplace. BP says its writedown for the current quarter could top $17 billion. Burger King launches the “Impossible Croissan’wich” nationwide. Brian Feroldi analyzes those stories and shares his recent boots-on-the-ground research at Burger King.
Transcript
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| 0:00.0 | It's Monday, June 15th. |
| 0:04.0 | Welcome to Market Foolery. |
| 0:05.0 | I'm Chris Hill with me today. |
| 0:07.0 | Our man in Rhode Island, it's Brian for all day. |
| 0:09.0 | Brian, good to see you. |
| 0:10.0 | Chris, how's it going? |
| 0:12.0 | It's going pretty well. |
| 0:13.2 | We've got some restaurant news, we've got some energy news. |
| 0:16.0 | We're going to start though with retail because Walmart, which the last time I checked was already |
| 0:21.7 | doing pretty well with the e-commerce |
| 0:23.6 | Walmart is partnering up with Shopify to expand its third-party marketplace site |
| 0:30.4 | and you know you and I were talking earlier today. This seems like a good move for both. It's the proverbial win-win, but in terms of stock prices, it's moving Shopify up about 5% today. |
| 0:43.7 | Yeah, these are two companies that are just having |
| 0:46.2 | stellar years and when you see yet another announcement like this come out of |
| 0:49.9 | Shopify, easy to understand why. |
| 0:52.8 | So Walmart is essentially opening up its Walmart.com platform, |
| 0:58.2 | which as you highlighted, is just seeing explosive growth. |
| 1:01.5 | Last quarter, 74% sales growth. Last quarter, 74% sales growth over the prior year. |
| 1:06.4 | So they're really having a big success. |
| 1:08.9 | But they're going to allow Shopify's users, |
| 1:12.3 | and there's more than a million of them right now to |
| 1:14.7 | essentially seamlessly offer their products and sell them directly on Walmart.com. |
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