Sam's Club online orders open to China
Chinese consumers are now able to order products from Sam's Club in the United States as part of Wal-Mart Stores Inc.'s partnership with online retailer JD.com.
About 200 products from Sam's Club's U.S. stores are available to online shoppers in China through the e-commerce website. Wal-Mart has a 12 percent stake in JD.com. The list of U.S. products -- which include health tablets and moisturizers -- will expand to 700 items this year, said Wal-Mart spokesman Rebecca Lui.
Wal-Mart is offering the products in hopes of tapping into the affluent tastes of Chinese consumers, who have shown growing interest in international products.
Wal-Mart sold its online business in China to JD.com in June 2016 but has been working with the company on efforts to boost its performance in the country. Last October, Sam's Club opened a flagship store on JD.com that offers 2,000 items selected from its physical clubs in China.
Wal-Mart Stores Inc. has more than 400 physical stores in China, including 15 Sam's Club locations.
-- Robbie Neiswanger
Airbnb to collect tax on Spa City guests
Airbnb, the online vacation home rental service, has reached an agreement with the Hot Springs Advertising and Promotion Commission to voluntarily collect the 3 percent advertising and promotions tax on all eligible bookings, beginning on June 1.
With the agreement, Hot Springs will be able to capitalize on people visiting Hot Springs and staying longer through home sharing.
Guests will be charged the appropriate taxes on their bill and Airbnb will remit the revenue directly to Hot Springs. Guests will see the charge on their booking receipt.
Hosts in Hot Springs welcomed nearly 3,400 guest arrivals in 2016, representing more than 300 percent growth over 2015.
Earlier this year, Airbnb agreed with the state of Arkansas to collect state and local taxes on short-term stays in the state.
-- David Smith
Arkansas Index slips 7.25 to close 318.60
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, slid 7.25 to 318.60 Wednesday.
"U.S. equities sold off sharply throughout the day due to political uncertainty as the [Chicago Board Options Exchange] Volatility Index spiked over 40 percent," said Leon Lants, managing director at Stephens Inc. in Little Rock.
Total volume for the index was 30.3 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 05/18/2017