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Shares of H&R Block jump after it announces an exclusive partnership with Walmart

Shares of H&R Block jumped nearly 1 percent Tuesday after the company announced an exclusive partnership with Walmart.

The deal will make H&R Block the sole tax software provider at Walmart stores.

H&R Block will be “the new, exclusive do-it-yourself desktop tax software provider available at Walmart stores nationwide, and sold directly by Walmart on walmart.com,” the report said. “This exclusive retail partnership brings the value, innovation and support of H&R Block do-it-yourself desktop software products to the world’s largest retailer, making the do-it-yourself products even more convenient for clients.”

H&R Block has underperformed the market in the past 12 months, falling as news of a simplified tax code made its way through Congress in the final months of 2017.

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