Walmart revamps its advertising business, including a new name

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Walmart Inc.
WMT,
-2.49%
said Thursday that it has revamped its advertising business, including the launch of a new name, Walmart Connect. Previously known as Walmart Media Group, the retail giant said the new name reflects the various ways that it can help clients reach the company’s 150 million weekly customers. Walmart is now offering new ways for advertisers to leverage the company’s digital platforms, a business that nearly doubled in revenue and advertisers last year. And Walmart has partnered with The Trade Desk, an advertising technology company, for a new platform that will launch in time for the holiday season. Walmart also announced this week that it would be adding dozens of local fulfillment centers to beef up the speed and efficiency of deliveries and order pickup. Walmart stock is up 23.4% over the last 12 months while the Dow Jones Industrial Average
DJIA,
-2.05%
is up 5.5% for the period.

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