Walmart revises down operating income and earnings forecasts
The world distribution giant Walmart has downgraded its operating income and earnings estimates for the current tax year following its $16 billion investment in Flipkart, the largest e-commerce group in India, amid strong competition from Amazon and major British retail groups.
Walmart is nonetheless expecting to see 2.5-3% growth in total online sales next year, a segment that accounts for 35% of its total revenues.
