Wal-Mart Stores Inc.’s Mexican and Central American unit plans to spend 15 billion pesos ($1.1 billion) to open stores and improve its e-commerce technology, aiming to spur growth in the region as U.S. sales slow.
U.S. stocks rose, erasing most of yesterday’s drop, as improving manufacturing data tempered concern about the economy and Facebook Inc.’s $19 billion purchase of a messaging startup fueled optimism about deals.
Wal-Mart Stores Inc., the world’s largest retailer, reported fourth-quarter profit that trailed analysts’ estimates as an emphasis on low prices hurt margins. The shares tumbled the most in six months.
Wal-Mart Stores Inc., the world’s largest retailer, boosted its profit forecast for the year after the Sam’s Club chain and changes in merchandising helped the company halt a decline in U.S. store sales.