Walmart is buying online men's clothing retailer Bonobos for $310 million in cash, showing that its appetite for hip clothing brands shows no sign of abating as it looks for ways to gain on Amazon. Bonobos, which started out selling pants online, caters to male shoppers looking for help putting together a wardrobe. Walmart keeps trying to compete against Amazon by pushing harder into online.

Focusing on brands appealing to younger shoppers Walmart has since bought clothing seller Mod Cloth, footwear retailer Shoe Buy and outdoor gear seller Moosejaw.

On the other hand Amazon announced a bold move into brick-and-mortar stores today by saying it would buy Whole Foods in a deal valued at about $13.7 billion. Bentonville, Arkansas-based Walmart's online business is gaining momentum, but remains a distant second to Amazon. It increased 63 percent in the fiscal first quarter, up from 29 percent in the previous period. That marked the fourth straight quarter of gains.

Under Lore's direction, Walmart also has been trying to take advantage of its scale in areas like shipping and sharing its products. Walmart aims to compete more aggressively with Amazon and is launching an incubator lab focused on projects in robotics, virtual and augmented reality, and artificial intelligence.