The Traderszone Network

Published in TZ Latest News 14 August, 2014 by The TZ Newswire Staff

Wal-Mart cuts forecast as it spends more on healthcare, online

Wal-Mart Stores Inc cut its full-year profit forecast, citing higher employee healthcare costs and increased investment in its online business. Chief Executive Doug McMillon blamed intense competition and weak consumer spending for sluggish U.S. same-store sales. Wal-Mart is yet to make its mark in the U.S. online marketplace, which is dominated by Amazon.com Inc. Wal-Mart named a new head for the online business in June, as part of its aggressive plans to integrate its online business with its network of brick-and-mortar stores.