Wal-Mart said that higher wages as well as spending on e-commerce and lower prices would cut earnings per share as much as 12 percent next fiscal year, sending its shares down 10 percent.
Wal-Mart faces tough competition on multiple fronts, from the relentless expansion of online leader Amazon to dollar stores and supermarkets fighting for a piece of its grocery business. Its international operations are also under pressure with a stronger dollar eating into sales.
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