WalMart Carnage: Stock Plummets Most In 17 Years After Slashing Earnings Guidance, Blames Wage Hikes

(Before It's News)

from Zero Hedge

Do you see what happens Larry when Wal-mart succumbs to “progressive” pressure and hikes wages? This:

• WMT CFO: NEW HIRES TO START AT $10 PER HOUR NEXT YEAR
• WMT CFO: 2017 RISE IN WAGES TO COST $1.5B
• WMT PLANS REDUCTION IN CAPITAL EXPENDITURES THROUGH FY19
• WAL-MART SEES FY2017 EPS DECREASING 6-12% VS FY2016

More from Reuters:

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