Wal-Mart Forecast Misses Estimates as Sales Slump Lingers
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Wal-Mart Stores Inc., the world’s largest retailer, forecast second-quarter profit that missed analysts’ estimates as the company copes with slow sales in the U.S., especially at its Sam’s Club warehouse stores.
Earnings will be $1.15 to $1.25 a share this quarter, the Bentonville, Arkansas-based company said today in a statement. Analysts had projected $1.28, the average of estimates compiled by Bloomberg. Sales and profit in the fiscal first quarter, which ended April 30, also missed estimates.