Walmart Reaffirms Earnings Guidance for Current Fiscal Year
Walmart plans to ramp up its investments in e-commerce.
Walmart (WMT) - Get Report reaffirmed its earnings guidance for the current fiscal year but said next year's earnings will be relatively flat. The big box retailer will also reduce the pace of new store openings, and plans to spend $11 billion in capital expenditures, with more investment in e-commerce. Meantime, Walmart has nearly doubled its stake in Chinese e-commerce company JD.com, now holding a 10.8% stake.
