Wal-Mart Unveils 'Store No. 8' Tech Incubator in Silicon Valley

Wal-Mart Stores Inc. is creating a technology-startup incubator in Silicon Valley to identify changes that will reshape the retail experience, including virtual reality, autonomous vehicle and drone delivery and personalized shopping. The incubator will be called Store No. 8, a reference to a Wal-Mart location where the company experimented with new store layouts. Marc Lore, chief executive officer of Wal-Mart's e-commerce operations, announced the incubator Monday at the ShopTalk conference in Las Vegas. The world's biggest retailer has been overhauling its online team to better challenge Amazon.com Lore founded Jet.com, which Wal-Mart purchased in September for about $3.3 billion in pursuit of Amazon in the e-commerce race.