Wal-Mart plans bigger e-commerce shift, tempers profit view

A Walmart store is seen in Encinitas, California April 13, 2016. REUTERS/Mike Blake/File Photo

CHICAGO: Wal-Mart Stores Inc said it plans to focus heavily on its e-commerce operations and warned investors that the cost of the long-term plan would weigh on earnings over the next two years. 

The strategy by the world's biggest bricks-and-mortar retailer, which includes slowing the pace of new store openings, is centred on cracking the dominance of Amazon.com Inc in online retailing and face off against other rivals like Target.