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Wal-Mart is clearly being more aggressive. There is a sense of urgency, but whether that is enough is the multibillion-dollar question.” Amazon accounted for 33% of U.S. online sales last year, according to the research firm Euromonitor. Wal-Mart moved into second place ahead of eBay, with 7.8 percent. Greg Melich, an analyst at research firm Evercore, estimates that Amazon customers spend an average of $800 annually on the site, and members of its $99-a-year Prime program spend on average 2.7 times more than others. If Amazon’s relationship with Prime members continues to grow, Melich said recently, then Amazon’s path toward Wal-Mart’s 9% of the total U.S. retail market from its current 3 percent is “reasonable.” If Lore is worried, he doesn’t acknowledge it. “We don’t think specifically about Prime at all,” he said. “We think we got a customer base —those customers who want to be able to save money and they want to be able to shop in different ways, whether it be direct-to-home, grocery pickup or going to the physical store.” Its 4,700 stores are a strength for Wal-Mart, as they buck the larger retail trend in seeing increases in shopper numbers and sales.
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Under third-generation leader Kim Jong Un, North Korea has been conducting missile tests at an unprecedented pace in an effort to develop an intercontinental ballistic missile capable of striking the mainland United States. The North test-launched a new type of its cruise anti-ship missiles on Thursday, its fourth missile test since the South's Moon took office on May 10, pledging to engage in dialogue with Pyongyang. Song, who served in the navy for more than three decades, was Moon's main security adviser during his presidential campaign, reprising his role in Moon's 2012 presidential campaign. A decorated veteran, Song took part in a 2009 skirmish between North and South Korean naval vessels off the western coast of the Korean peninsula. Song's appointment does not need parliament's approval, but he must attend a hearing and answer questions from lawmakers. The Blue House said Song admitted to having falsely registered his residence information in the past, a criminal offense in South Korea. Many of Moon's ministerial choices have faced an uphill battle in parliament on this and other ethical issues, and lawmakers are likely to grill Song the same way. He is expected to cooperate with the United States, the country's major military ally, to respond to the North's growing missile threat. The government has said it will not change a pact with the United States for the deployment of a U.S.