Costs, efficiency and automation the theme
Shares of Wal-Mart are in focus today after guidance from the world's biggest physical retailer. I listened to the investor meeting and the themes weren't what the Fed would hope. The talk wasn't about a growing economy, capital spending and inflation.
Instead, it was about cutting new store openings, investing online and improving efficiency. Executives talked about expanded testing in automation and robotics and more efficiency.
The "timing is right to act on costs in a more aggressive way," the company said.
From the sounds of things, Wal-Mart is hoping to compete aggressively with Amazon for holiday shopping this year.
You can watch it here:
