Walmart drops as investors look past record holiday sales
The retailer plans additional spending on automation and higher workers’ salaries in online collection, delivery and e-commerce
18 February 2021 - 16:56
New York — Walmart fell on Thursday after forecasting a slowdown in sales and profit for the year, plus billions of additional spending on automation, other technology and workers’ salaries.
The retailer said earnings per share will decline slightly in the fiscal year that just started, though will be flat or slightly up when excluding divestitures. Though US comparable sales will stay positive in 2021, they’ll rise in the low-single-digits, below the recent breakneck rate but on pace with estimates...
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