Walmart Lowers Earnings Forecast
- 6 years ago
(Reuters) - Walmart Inc lowered its earnings forecast for the year on Tuesday to include the impact from its acquisition of Indian e-commerce company Flipkart, and said its e-commerce growth next year will be slower than the current fiscal year. REUTERS/Jose Cabezas/File Photo In May, Walmart acquired Flipkart for $16 billion, its largest-ever deal, in order to compete with Amazon.com Inc in an important growth market. Shares were down 2.5 percent at $91.5 in premarket trading.