Walmart slashed its annual sales growth forecast and announced that it would sharply slow down the openings of its superstores in the United States next year, and shift its focus toward e-commerce and smaller stores. The company expects net sales to grow 2 to 3 per cent this year, substantially less than a previous prediction for 3 to 5 per cent growth, hurt by sluggish store traffic and currency fluctuations. Walmart will also cut its capital expenditure in 2015 to US $ 11.6 billion to US $ 12.9 billion, down as much as US $ 1.4 billion from an earlier anticipation. “We’re being thoughtful about growth. My message is quality, not quantity. We can’t turn this ship around overnight, but this is our focus”, said Greg Foran, Chief Executive of Walmart for USA.
