H&R Block (HRB) Partners Walmart For Bigger Consumer Base
Zacks Investment Research | Jan 16, 2018 09:48PM ET
H&R Block, Inc. (NYSE:HRB) recently entered into a partnership with Wal-Mart Stores, Inc. (NYSE:WMT) , through which the former will sell exclusive do-it-yourself desktop tax software at all Walmart stores.
Becoming the sole tax software provider to the world's largest retailer is likely to give H&R Block a competitive advantage over its peers. H&R Block provides users with personalized tax filing facilities aided by free tax advise given by highly trained professionals. This partnership is expected to make it easy for customers to purchase H&R Block desktop software for their tax filing needs at economical prices.
Moreover, the company has upgraded its desktop software by adding a slew of new features. The drag and drop feature enables users to import previous tax information and tax returns from any source. In addition, a maximum of five free federal returns can be filed. Free In-person Audit Support including step by step assistance for IRS Correspondence Management, Audit Preparation and Audit Representation will also be provided. It includes the option to add Tax Identity Care service at an extra price which will protect clients from tax identity theft. By providing high quality services at such reduced rates or for free, H&R Block aims to increase its consumer base in the tax services market.
The company has been making various enhancements to its online digital tax software in order to improve monetization and conversion for the long run. The company has also been focused on operational excellence, new product developments, partnerships, compelling marketing campaigns and promotions. The company expects these efforts to result in improved financial performance in fiscal 2018 accompanied by an increase in client trajectory.
However, shares of the company have underperformed the Zacks Investment Research
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