Walmart lays off hundreds of workers at e-commerce facilities around the country
and lower profits in the coming fiscal year. The company said last month that it expects same-store sales for its U.S. business to grow between 2% and 2.5%, excluding fuel. That compares with 6.6% growth in the previous fiscal year.
The company expects adjusted earnings per share to range from $5.90 to $6.05, excluding fuel, for the fiscal year. That's lower than the adjusted earnings per share of $6.29 for the past fiscal year. Online sales have continued to grow, though at a slower pace than during the peak of the pandemic. E-commerce sales for Walmart's U.S. business rose 12% in the most recent fiscal year, which ended Jan. 31. That compares with 11% growth in fiscal 2022 and 79% in fiscal 2021.
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