Walmart buys outdoor clothes and gear seller Moosejaw

CNET reports that Walmart is adding another e-commerce asset to its shopping cart today, with the $51 million acquisition of Michigan-based retailer Moosejaw. The company now employs over 350 people, and carries more than 400 outdoor brands. In August 2016, the world's largest retailer paid more than $3 billion to acquire online startup and in late December, acquired online footwear retailer ShoeBuy for approximately $70 million.In the five years before the deal, the retailer acquired more than 15 startups. Moosejaw will continue to operate its site and stores separately and will be run as a standalone brand. Eastern Mountain Sports filed for bankruptcy just last week, while Gander Mountain, a stalwart in hunting, fishing, and camping, is reportedly near a bankruptcy filing. It also comes on the heels of other acquisitions. Walmart says Madison Heights, Michigan-based Moosejaw, which is largely online and sells more than 400 brands, will keep operating its site and stores.

The outdoor retailer, founded in 1992 in MI, will "be run as a standalone and complementary brand to (Walmart's) other e-commerce sites", according to a news release.

Bentonville, Arkansas-based Walmart also purchased online marketplace a year ago for $3 billion in cash plus $300 million in stock.

Currently, WMT is a #4 (Sell) on the Zacks Rank.

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