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Reports: Walmart's Jet.com To Open Fulfillment Center In New York

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Retail giant Walmart Inc.'s (WMT) e-commerce site Jet.com will open a new fulfillment center in New York City later this year, according to media reports on Tuesday.

The new fulfillment center in the Bronx, slated to open this fall, will enable Jet.com to bring same-day and next-day delivery to New York City. The move is expected to enable Walmart to better compete with Amazon.com Inc. (AMZN).

Jet.com was acquired by Walmart, the world's largest retailer, as part of its efforts to challenge Amazon's dominance in the e-commerce market. In September 2016, Walmart completed its acquisition of Jet.com Inc. for $3 billion in cash. Jet.com targets urban, millennial customers.

Jet.com's Bronx facility will reportedly stock Jet inventory exclusively, including groceries and select general merchandise. The fulfillment center will also bring hundreds of jobs in the neighborhood.

Jet.com will use Parcel, a third-party delivery service, to help with deliveries to customers. Walmart said in October 2017 that it acquired Parcel, a New York City-based same-day delivery service company.

In March, Walmart said it plans to expand its Online Grocery Delivery option to more than 40 percent of U.S. households by the end of the year. The company noted that the service will be expanded to more than 100 metro areas across the country.

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