Wal-mart's (WMT) Fall Shows Who the Real Retail Giant Is
Wal-mart's (NYSE: WMT) reign as top retailer took a hit today.
With shares sliding as much as 9.9 percent, Wal-mart's market cap is now below $200 billion.
Amazon.com (Nasdaq: AMZN) is currently trading with a market cap around $257 billion today. The stock just about flat, but has moved higher after being lower early.
The three legs of Wal-mart's investment strategy include increased wages, store expansion, and bolstering its e-commerce operations.
But, the announcement from Wal-mart today could benefit Amazon. Wal-mart revised its CapEx for e-commerce and digital from a range of about $1.2 to $1.5 billion down to around $900 million for FY16. The company also sees CapEx for the segment at around $1.1 billion in FY17.
For more on Wal-mart's revised outlook, click here.