Walmart acquires Parcel delivery service

Associated Press

NEW YORK

Walmart doesn’t have stores in New York City, but it’s looking to deliver same-day service to residents.

The company said Tuesday that it has acquired delivery service Parcel, which has a warehouse in Brooklyn and has learned to deftly navigate densely populated areas and get groceries to customers fast. That last leg is key for all retailers as the ability to deliver quickly and at a low cost brings tremendous advantages in fending off competitors such as Amazon.com.

The announcement came just a few days after Jet.com, the online retailer Walmart bought last year for more than $3 billion, introduced higher-end, online groceries under a private brand that are aimed at younger urbanites. Parcel will deliver fresh and frozen groceries from Walmart and Jet.com, as well as general merchandise.