Investor Alert

London Markets Open in:

July 28, 2021, 9:08 a.m. EDT

Walmart partners with Adobe to offer other businesses its technology

Walmart Inc. (NYS:WMT) said early Wednesday that it has partnered with Adobe Inc. (NAS:ADBE) to bring its technology to other businesses. Walmart has built new capabilities to serve its customers, and its integrating its marketplace, online and in-store fulfillment with Adobe Commerce, which will allow other retailers to use Walmart's cloud-based services for pickup, delivery and other services. "Commercializing our technologies and capabilities helps us sustainably reinvest back into our customer value proposition," said John Furner, chief executive officer of Walmart U.S., in a statement. Companies like Coca-Cola Inc. (NYS:KO) and Verizon Communications Inc. (NYS:VZ) also use Adobe technologies. Walmart stock has fallen 1.1% for the year to date. Adobe shares have rallied 23.6%. And the Dow Jones Industrial Average (DOW:DJIA) is up 14.6% for the period.

Link to MarketWatch's Slice.