Weak first quarter for Wal-Mart

Wal-Mart Stores Inc., the world’s largest retailer, posted first-quarter earnings that missed analysts’ estimates after U.S. sales grew more slowly than projected and currency fluctuations ate into profit.

The retail giant posted fiscal 2016 first-quarter earnings of $1.03 per share, down from $1.10 a share in the year-earlier period. The retailer said currency negatively impacted earnings by about 3 cents a share. Revenue slipped to $114.83 billion from $114.96 billion a year ago. (portfolio.hu)