Investing.com – Wal-Mart (NYSE:WMT) fell early Thursday after predicting “relatively flat” profits next year.
Wal-Mart shares were down 2.99% at $69.53 at 09:45 ET,
The retail giant had previously forecast earnings growth in year to Jan 2018.
Wal-Mart reiterated year to Jan 2017 adjusted EPS guidance of $4.15-$4.35.
Company expects capex of about $11 bn in next fiscal year.
To slow new store openings; rely more on comp sales, e-commerce to drive growth.