Big-box store Walmart predicted a sharp decline in their expected earnings next year due to the company’s pledge to raise wages and lift online sales.
The company expects its per-share profit to fall between 6 and 12 percent by fiscal year 2017.
Shares of the company dropped over 9 percent in midday trading and the stock has declined almost 30 percent this year so far. Read more at The Wall Street Journal.
{CB Frommer-Matzav.com}
I never liked Walmart. Their prices for the quality they offer is not that great. I never understood what the whole craze of “going shopping in Walmart” was. Walmart is one of the most over-hyped stores in American history. Shoprite & Waldbaums prices on food is definitely cheaper. For their other products, they are no better priced than Kmart or Target.