facebook
twitter
search
search

Walmart finishes worst year since 1974

By Amy R. Connolly   |   Jan. 1, 2016 at 1:17 PM

CHICAGO, Jan. 1 (UPI) -- Investment research group Morningstar said Walmart saw its stock tumble about 30 percent in 2015, making it the company's worst year since 1974.

The company lost nearly $80 billion in market value in 2015, with their worst day being Oct. 14, 2015, when shares tumbled 10 percent or 6.70 points. Online giant Amazon.com has been chipping away at Walmart, forcing the company to invest as much as $1.1 billion to bolster e-commerce revenue and growth in sales.

"Investors remain concerned that Wal-Mart will need to continue investing larger and larger sums of money to generate the same level of sales growth," Morningstar's Philip Gorham said. "However, we believe Walmart's earnings power has been underappreciated, especially as investments moderate over the medium and long term."

Related UPI Stories
Latest Headlines
Top Stories
Videos