Jim Cramer Says Walmart Cut Estimates to Focus on Rival Amazon

TheStreet's Action Alerts PLUS Portfolio Manager and Host of 'Mad Money' Jim Cramer says Walmart (WMT) is 'dying a death of a thousand cuts over time.' Cramer believes what the retail giant's CEO Doug McMillon is doing is lowering earnings expectations so he has the flexibility to invest more in technology to take on rival Amazon (AMZN). Last week, McMillon told Cramer on 'Mad Money' that he was surprised that so many were upset at the company's change in strategy to take on Amazon head to head. McMillon said 'we're not going to give you growth in earnings' as the company shifts its focus to grow revenues. Cramer believes Walmart may be able to come up with a system that can get products to people faster than Amazon and also make it easier to return them. Cramer said, 'Look at them to be able to do that under the cover of the revenue gain, but more importantly, the earnings a share moderation.'