Charles Holley, executive vice president and CFO, said the capital investments in e-commerce will include technology and infrastructure.
"Our business and customers continue to evolve and so will the way we deploy capital," he
"We will invest more heavily in e-commerce initiatives, while temporarily moderating our global physical growth, particularly larger stores.
We are focused on creating an endless aisle and appealing to our customers' changing needs."
expects to finish fiscal 2015 with approximately $12.5 billion in e-commerce sales.
Looking forward, the company expects an increase in global e-commerce sales of around 25 percent in fiscal year 2016, and growth over the three-year period from fiscal years 2016 through 2018 to average 30 percent to 40 percent.
"The greatest investment of capital and in operating loss for our e-commerce operations will come over the next 18 to 24 months, and then we would expect to see that investment start to moderate in fiscal 2018," Holley