Amazon Vs. Walmart: Rest Of Retail Fights For Crumbs
Amazon’s stock is up more than 60% this year to above $1,200 due to healthy sales — and that’s helped lift the net worth of CEO Jeff Bezos past the $100 billion level. Walmart’s shares have soared 40% to a near record high of $100 thanks to robust growth in its online commerce operations. But the rest of retail? It’s not exactly a happy Cyber Monday — or year — for traditional stores like Nordstrom, Target, Macy’s, JCPenney and Sears. Shares of Nordstrom have fallen nearly 15% so far in 2017. And that, perversely enough, makes them one of the better performers in the downtrodden retail sector. Target shares have lost almost a quarter of their value. Macy’s stock has plunged more than 40%. JCPenney and Sears are both down a whopping 60%. Why is Wall Street so confident that the retail battle is simply one between Amazon and Walmart? It’s because both of them are growing increasingly dominant — particularly in digital — leaving the rest of retail to scramble for any scraps they can get. See more at CNN Money.