SUBSCRIBERS
Walmart cuts profit outlook on higher wages
Investment in online services and a stronger dollar are also eating into earnings
Published Wed, Aug 19, 2015 · 09:50 PM
New York
WALMART cut its annual profit forecast on Tuesday, saying the costs of raising wages for a half-million workers were weighing down its bottom line.
Walmart's investment in its online services as it vies to compete with e-commerce titans such as Amazon is also eating into profits, as is a stronger dollar, the company said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue