If you've been waiting for a new Walmart supercenter to open in your town, don't hold your breath.
Walmart has become the biggest retailer in the world thanks to its 11,500 stores. But guess what? These days, the big-box operator is a little more interested in talking up its online persona, Walmart.com, which it hopes will help re-energize sales and challenge Amazon.
At an investor event Thursday, Walmart executives laid out a plan to pour billions more dollars into online expansion, while cutting down new store openings.
"This company over time is going to look more like an e-commerce company," CEO Doug McMillon told the crowd.
