Walmart Cuts Earnings Outlook
(Undated) — Walmart is cutting its earnings outlook for fiscal 2019. The world’s biggest retailer made the announcement today before its annual investors meeting. Walmart is lowering its adjusted earnings per share to a range of 4-65 to 4-80. That’s down from an earlier estimate of 4-90 to 5-05. Walmart says the reduction is because of the company’s acquisition this year of Indian e-commerce company Flipkart. Walmart paid 16-billion dollars in May for a 77-percent stake in Flipkart.
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Gus Koernig/mwl AR)
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10-16-2018 04:45:07