NEW YORK (TheStreet) -- Shares of Walmart Stores Inc (WMT) were retreating, lower by 0.29% to $74.97 in afternoon trading Thursday, as Amazon.com (AMZN) fights back in the ongoing online delivery war and offers free same-day delivery to its Prime members.
Earlier this month, Walmart revealed its plans to compete with Amazon by creating its own unlimited shipping program for a $50 annual fee, compared to Amazon Prime's $99 annual membership, according to Reuters.
Additionally, Google (GOOGL) recently started offering its express shopping option, letting retailers without same-day delivery options use its network in certain markets. The Google Express service costs $10 per month, or $95 a year.
This morning, Amazon upped the ante by saying it will offer free same-day shipping with an order of more than $35 for its Prime subscribers. The offer will be available for a limited time in some of its key markets.
Previously, Amazon's quick shipping service cost $5.99 for same-day delivery for those who already paid for their Prime membership.
Bentonville, Ark.-based Walmart Stores operates retail and other stores in various formats, including membership clubs. The company operates through three business segments which consists of Walmart U.S., Walmart International and Sam's Club.
Separately, TheStreet Ratings team rates WAL-MART STORES INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate WAL-MART STORES INC (WMT) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel its strengths outweigh the fact that the company shows weak operating cash flow."