Walmart to cut $500 million from food and grocery orders
Walmart is planning to cut some $500m in revenue from food, groceries and other goods it sells at its U.S. stores this year.
Walmart has been on a tear of late, as the company has cut more than $5 billion in revenue in the last year alone.
The company reported its fourth-quarter earnings on Wednesday.
Its biggest cuts have come in the food department, which it has been slashing by $500,000 from the previous year.
The company said that its total food orders will drop 8.6% this year, with more than a quarter of the cuts coming in the U.K., where the cuts will be $200m.
The largest cuts will come from the U