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Warren Buffett Drops Walmart -- Signals Death of Retail as we know it

posted by on Thursday February 16 2017, @06:20AM   Printer-friendly
from the the-wizard-of-omaha-is-never-wrong dept.

Phoenix666 writes:

When Buffet speaks, people listen:

Warren Buffett's Berkshire Hathaway has sold off $900 million of Walmart stock, choosing to invest billions in airlines instead.

The sale, which leaves Buffett with nearly no shares in Walmart, comes as the US's largest traditional retailer has been rushing to catch up to Amazon and other online competitors.

Amazon's market value is now $356 billion, compared with Walmart's $298 billion. Last year, Buffett acknowledged that traditional brick-and-mortar retailers were struggling in the face of competition from the e-commerce giant.

Yes, but is he still long on Big Cola?

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  • (Score: 0) by Anonymous Coward on Thursday February 16 2017, @09:13PM

    by Anonymous Coward on Thursday February 16 2017, @09:13PM (#467964)
    OP here. Yea, I'm pretty boring/efficient. As a byproduct, I order a pair of pants, try them on, make sure they fit, return if necessary, and then order a stack of them from the same company. This way I only end up buying clothes once every few years. The second problem is that the selection on the internet is SO MUCH better. Take my last few purchases - lifetime warranty socks, linen/rayon blend mens yoga pants, high-performance compression socks, spiderman close-fitting undershirt. Yea, whatever, I'm a weirdo, but just _try_ finding any _one_ of those things in a store.