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NEW YORK – Walmart ( ), long known for its "everyday low prices" mantra and as a place for basics, wants shoppers to think of it as a source for style and upscale fashion as it tries to reach more affluent customers. The company is launching the Lord & Taylor store on its website in the coming weeks with more than 125 brands like Lucky Brand, Vince Camuto and Tommy Bahama, reflecting its effort to broaden its customer base, stimulate growth and compete with Amazon ( AMZN ). It's imperative for Walmart to expand beyond its low-income shoppers who are limited in how much they can spend. But the strategy isn't without risks. The company needs to court higher-income shoppers while holding true to its core strategy. Full story

16 May