Warren Buffet: Retail is changing big time

Iconic investor Warren Buffett isn't very bullish on the retail segment. In fact, in his view, retail is now purely ecommerce.

"The department store is online now," the Berkshire Hathaway leader stated during his company's annual meeting, according to a Business Insider report, which notes the company sold off nearly all its Wal-Mart stock, about $900 million, back in February.

Topics: Financial News, Trends / Statistics

Companies: Walmart

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