Walmart gave a lackluster profit outlook for next year, and said it will slow new store openings as it invests in remodels and digital initiatives.
The chain on Thursday outlined its plans for the next several years ahead of a meeting with investors. In a big change for a company whose growth has been fueled by aggressive store expansion, Walmart going forward said it will rely more on comp sales and e-commerce growth to drive the top line. Although the retailer is pulling back on new store growth, it plans to increase investments in e-commerce, technology, store remodels and other customer initiatives.
