Walmart's bruising battle with Amazon saps its 4Q results
NEW YORK (AP) — Walmart is getting bruised in its battle with online leader Amazon.
The world's largest retailer on Tuesday reported a smaller-than-expected fourth-quarter profit as it wrestled with slower e-commerce sales during the busiest time of the year. The results underscore the company's challenges in a fiercely competitive retail landscape.
Those numbers overshadowed the discounter's better-than-expected sales at its established stores and higher customer traffic as online services linked to its stores attract more shoppers.
Walmart's stock slipped nearly 10 percent in afternoon trading, putting it on track for its biggest percentage drop since October 2015.