VIDEO

Profit will fall as much as 12 percent in next fiscal year

Retail chain investing in its workforce, e-commerce programs

Share on FacebookShare on Twitter

Share on LinkedInShare on RedditShare on Google+E-mail

Wal-Mart Stores Inc. suffered its worst stock decline in more than 15 years after predicting a drop in annual profit, underscoring the giant retailer's struggles to reignite growth.

Earnings will decrease 6 percent to 12 percent in fiscal 2017, which ends in January of that year, the Bentonville, Arkansas-based company said at its investor day on Wednesday. Analysts had estimated a gain of 4 percent on average, according to data compiled by Bloomberg.