Wal-Mart expects flat earnings next year

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A Walmart store is seen in Encinitas, California April 13, 2016. REUTERS/Mike Blake/File Photo (Copyright Reuters 2016)

Wal-Mart Stores Inc on Thursday reiterated its earnings forecast for the current fiscal year but said profit would remain flat in fiscal 2018 due to investments in its online business.

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Wal-Mart expects earnings per share of $4.29 to $4.49 this year. Excluding items, profit will be $4.15 to $4.35 per share, the company said in a statement.

(Reporting by Nandita Bose in Chicago; Editing by Lisa Von Ahn)