Walmart (WMT) has collaborated with the Justice brand to launch its signature collection of latest and trendy designs in the tween apparel, accessories, and home segment at cheap prices across 2,400 Walmart stores across the U.S.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Currently, Walmart has a $397 billion market capitalization, and its shares have gained 7% over the past year.
Justice is a popular brand that provides trendy tween apparel and accessories at reasonable prices. Justice shut its stores as its parent company Ascena Retail Group filed for bankruptcy in 2020. It is currently owned by Bluestar Alliance.
Per the terms of the collaboration agreement, Walmart will sell over 140 Justice products across its 2,400 stores and online. The new collection includes fashion clothing, jewelry, accessories, bedding sets, bathroom accessories, backpacks, stationery, skateboards, and tech accessories.
Walmart’s launch of Justice’s new back-to-school collection is very timely as both kids and parents prepare to return to school post the COVID-19 pandemic. (See WMT stock charts on TipRanks)
An increasing number of retailers are partnering with brands to attract more customers and achieve economies of scale.
In June, Walmart launched Gap Home to sell Gap’s debut line of home essentials products on Walmart.com under an exclusive sale agreement.
Denise Incandela, EVP of Apparel and Private Brands at Walmart commented, “We’re thrilled to partner with Justice as its exclusive fashion retailer as we continue to expand our assortment and add new national brands, offering customers quality, on-trend and accessible style at an incredible value.”
Morgan Stanley analyst Simeon Gutman reiterated a Buy rating on the stock and a price target of $160 (13% upside potential).
Gutman favors Walmart stock, and he thinks that inflection is unlikely, with membership levels continuing to hover around 9 – 10 million members since March.
Consensus among analysts is a Strong Buy based on 15 Buys and 4 Holds. The average Walmart price target of $167.24 implies 18.1% upside potential to current levels.
Related News:
DAL Reports First Pre-Tax Profit Since Pandemic Struck
Twilio Unveils Twilio Live, Shares Down 3.6%
Walmart Partners with Symbotic to Achieve Supply Chain Automation
