When Walmart finally says no to polyester, will it stop shipping Walmart polyester products?
Walmart said it will not continue to ship Walmart polyesters in its stores after the company agreed to buy rival Wal-Mart Stores Inc. for $3.6 billion on Thursday.
The company did not say whether it will stop selling the product in stores.
Walmart said the decision to buy Wal-Marts was “in accordance with our business priorities.”
Wal- Mart Stores Inc., founded in 1976, operates in more than 180 countries and is the largest privately held retailer in the world.
It has more than 2,500 stores across the U.S. and Canada.
The deal also includes a $4 billion, 10-year loan guarantee for Walmart.
Walmart shares rose $1.21, or 0.6%, to $74.85 in afternoon trading on the New York Stock Exchange.
Walmart stock is down more than 20% since its Nov. 19 peak.
Walmart’s announcement that it will no longer sell the product comes a day after a Reuters/Ipsos poll found that nearly a quarter of U.K. consumers said they would stop buying products made with polyester.
The Reuters/ Ipsos Poll found that 59% of consumers who have purchased items from Walmart in the past year said they have not used the material.