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From the Wall Street Journal
Wal-Mart Stores Inc. appealed to investors for patience Wednesday, as it tries to retool its operations for shoppers who are buying more online and in smaller stores closer to home.
The world’s largest retailer unveiled plans to slash the number of massive supercenters it plans to build in coming years in favor of investing more in e-commerce, which represents the fastest-growing part of its business but continues to generate operating losses.
The company said its yearly e-commerce sales could approach $35 billion by early 2018, up from $10 billion last year. But it warned of a rough stretch for sales and profits as it plows ahead with its overhaul.
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