World’s largest retailer is facing challenges as low-income shoppers struggle in the slowly recovering economy and Amazon becomes increasing competition

Walmart Stores cut its annual earnings outlook Tuesday because its profits are being squeezed by currency fluctuations, higher wages and investments in overhauling its US stores.

The world’s largest retailer also reported an 11.4% drop in second-quarter profit, and lowered its growth forecast for global e-commerce this year.

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Source: The Guardian Circular Economy RSS