Wal-Mart plans to slow new store openings, invest in online
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October 7, 2016
NEW YORK (AP, Oct. 6, 2016) — Wal-Mart Stores Inc. is planning to slow new store openings as it looks to pour more money into its online efforts, technology and store remodels.
Wal-Mart closed on its more than $3 billion buyout of the fast online retailer Jet.com last month, showing how heavily it's willing to invest as it tries to boost online sales that totaled $13.7 billion last year — still just a fraction of the company's annual revenue.
The world's biggest retailer also said Thursday that it anticipates fiscal 2018 earnings per share being about flat versus its fiscal 2017 adjusted earni...
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