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UPDATE 1-Wal-Mart near deal to give Lord & Taylor website space -WSJ

(Adds details on nature of partnership)

Oct 19 (Reuters) - Wal-Mart Stores Inc is near a deal to give department store chain Lord & Taylor dedicated space on its walmart.com website, the Wall Street Journal reported on Thursday.

Retailers including Amazon.com Inc and Alibaba Group Holding Ltd offer dedicated space to brands on their website. Such arrangements allow companies to increase traffic to their e-commerce platforms and let retailers boost their online assortment.

Financial terms of such a deal could not be ascertained, the newspaper said. Wal-Mart did not immediately respond to a Reuters request for comment.

Lord & Taylor will continue to operate its own website, but shoppers at lordandtaylor.com will be able to pick up and return items at Wal-Mart's 4,700 U.S. retail stores, the WSJ reported, citing a person familiar with the matter. (Reporting by Nandita Bose in Chicago and Vibhuti Sharma in Bengaluru; Editing by Savio D'Souza and Jeffrey Benkoe)