Walmart considering options to sell Modcloth
Walmart Inc. is considering the option to sell Modcloth, the women's clothing and accessories e-commerce site that features a range of sizes from 00 to 28, according to Modcloth Chief Executive Silvia Mazzucchelli. Walmart acquired Modcloth in 2017, one among a string of sites the retail giant purchased to beef up its online offerings. Mazzucchelli told the site Glossy that "Walmart has received outside interest from buyers for Modcloth." Walmart recently announced that it was absorbing the Jet.com staff into its e-commerce business. When reached for comment, a Walmart spokesperson wouldn't go into further detail beyond Mazzucchelli's comments. Walmart stock has gained 16.2% in 2019 while the Dow Jones Industrial Average is up 11.3% for the period.
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