Wal-Mart foresees 40 percent growth in U.S. online sales for fiscal 2019

Wal-Mart Stores Inc on Tuesday forecast U.S. online sales to increase by about 40 percent and overall net sales by at least 3 percent in the fiscal year ending January 2019.

The retailer, which will hold its investor meeting on Tuesday, also said it would buy back $20 billion (15.16 billion pounds) of its shares over two years.

The company forecast profit for fiscal year 2019 to increase about 5 percent over the expected adjusted earnings of $4.30 to $4.40 per share for the year ending January 2018.