A retail revolution reality check; also see Walmart Takes Aim at ‘Cloud Lock-in’ (NYT)
"Wal-Mart delivered a disappointing message to Wall Street on Wednesday: Sales will remain sluggish, and profit will be hampered next year by efforts to raise workers’ salaries and improve e-commerce capabilities.Wal-Mart warns that its profits will fall, shares plummet - The Washington Post
The mega-retailer’s stock plunged 10 percent on the news, wiping out about $20 billion in market value.
The lackluster forecasts underscore the problems that have dogged Wal-Mart in recent years: It has scrambled to catch up online to Amazon.com, which eclipsed it as the world’s most valuable retailer this year. And its focus on rock-bottom prices has come at the expense of having clean, well-stocked stores."
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