Walmart buying internet retailer Bonobos for $310M

Walmart is buying internet retailer Bonobos for $310 million in cash.Bonobos launched as a menswear brand online in 2007, expanding into brick and mortar retail in 2011 and partnering with Nordstrom in 2012. Bonobos Founder and CEO Andy Dunn will join Walmart to oversee the company's online consumer brands."Adding innovators like Andy will continue to help us shape the future of Walmart, and the future of retail." Marc Lore, president and CEO of Walmart's U.S. ecommerce division said in a statem