Wal-Mart is cutting back on store investments and spending more on e-commerce in the face of stagnant same-store sales and falling store traffic in the US.
The company recently cut guidance for 2015, saying that it expects growth of 2-3% compared with previous estimates of 3-5%.
"There is no excuse for us not to be doing better," Wal-Mart Stores CEO Doug McMillon said during the company's annual meeting with investors in October. "We recognize our situation has changed and we're responding accordingly."
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