Wal-Mart warns that its profits will fall, shares plummet - The Washington Post

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.

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."

Wal-Mart warns that its profits will fall, shares plummet - The Washington Post