|
The
company is holding its annual investor day, where it is expected
to report on its progress in e-commerce. Its shares fell 1.9
percent in premarket trading.
Wal-Mart said it expected flat earnings for the year ending on
Jan. 31, 2018, with capital expenditures of about $11 billion.
It had previously forecast profit growth.
The company has accelerated its investment in e-commerce and
digital efforts from about $300 million in 2013 to $1.1 billion
this year for a total of about $3 billion, excluding
acquisitions, according to public filings and earnings reports.
Wal-Mart also recently spent more than $3 billion to buy
e-commerce startup Jet.com.
E-commerce accounts for about 3 percent of Wal-Mart's overall
sales.
Wal-Mart said it expected earnings-per-share growth of 5 percent
in fiscal 2019. It previously forecast an increase of 5 percent
to 10 percent.
The company reiterated its earnings forecast of $4.29 to $4.49
for this fiscal year. Excluding items, profit will be $4.15 to
$4.35 per share, the company said in a statement.
(Reporting by Nandita Bose in Chicago; Editing by Lisa Von Ahn)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
