Wal-Mart buys outdoor clothes and gear seller Moosejaw

Moosejaw in Grand Rapids

Moosejaw in Grand Rapids

NEW YORK (AP) — Wal-Mart has acquired the outdoor clothing and gear seller Moosejaw for $51 million as it expands its online offerings.

The cash deal was announced Wednesday. Wal-Mart says Madison Heights, Michigan-based Moosejaw, which is largely online and sells more than 400 brands, will keep operating its site and stores. Its 350-plus employees will stay based in Michigan.

Wal-Mart, which is trying to better compete with online leader Amazon.com, says buying Moosejaw gives it the experience of another well-established e-commerce player with strong industry relationships.

Bentonville, Arkansas-based Wal-Mart also purchased online marketplace Jet.com last year for $3 billion in cash plus $300 million in stock. Wal-Mart’s online sales had been slowing over the past two years but notably accelerated during last year’s third quarter. It reports its fourth-quarter results next week.

Editor Note: There are no indications that the sale will affect the local Moosejaw outlet at 410 Ionia SW in Grand Rapids.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s