business news in context, analysis with attitude

From Fortune:

"Who knew that the rise of Amazon would turn out so well for Walmart and Target?

"It was only a few years ago that both of those titanic big-box retailers were in peril, losing customers in droves to the e-commerce giant. But the past decade’s radical reshaping of how Americans shop, a change fueled by Amazon’s inexorable ascent, has paradoxically resulted in Walmart and Target - along with a few other big U.S. retailers - evolving to become stronger and more successful companies than ever. The massive shock of e-commerce’s encroachment, analysts agree, gave them the jolt they needed to reinvent themselves."

The story characterizes this as "a stunning return to form for both Walmart and Target," which, perhaps implausibly, are "getting more shoppers to come to their stores."

You can read the entire story here.