Walmart unveils details of Walmart+ membership program, 6 months after confirming it was coming

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Shares of Walmart Inc. rose 2.3% in premarket trading Tuesday, after the retail giant unveiled its Walmart+ membership program, which is seen as a rival to Amazon.com Inc.’s Amazon Prime program. The unveiling comes about six months after Walmart confirmed that it would launch Walmart+ but didn’t provide details of what it would offer. Meanwhile, Amazon’s stock gained 1.0% ahead of the open. Walmart said Walmart+ will be available Sept. 15 for $98 a year, or $12.95 a month. The program includes unlimited free delivery, in some cases as fast a same-day; a Scan & Go “touch-free” feature in which shoppers can scan items in the store an pay using Walmart Pay; and savings of up to 5 cents a gallon on gas at nearly 2,000 Walmart stores, and Murphy USA and Murphy Express gas stations. “Walmart+ will bring together a comprehensive set of benefits where we see the greatest needs from our customers and where our scale can bring solutions at an unprecedented value,” said Chief Customer Officer Janey Whiteside. Walmart’s stock has gained 16.8% year to date through Monday, while Amazon shares have soared 86.8% and the Dow Jones Industrial Average has slipped 0.4%.
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