NEW YORK/DALLAS—Walmart Inc. plans to expand its advertising business, adding space for ads at its U.S. stores and sharing its vast trove of shopper data with brands, the world’s largest retailer said on Thursday, looking to challenge rival Amazon.com Inc. as a media powerhouse.
The efforts are key to Walmart’s aggressive plan to achieve a more than tenfold increase in its advertising business within five years, according to a source familiar with the matter.
