Wal-Mart’s quarterly result is lower than expected
Wal-Mart Stores Inc. reported weaker-than-expected quarterly earnings and lowered its annual forecast on Tuesday, citing higher costs from adding worker hours as well as weaker margins in its U.S. pharmacy business.
Net profit attributable to the company fell to 3.48 billion USD, or 1.08 USD per share, in the second quarter ended July 31, from 3.92 billion USD, or 1.21 USD, a year earlier. Analysts, on average, expected 1.12 USD per share, according to Thomson Reuters I/B/E/S.
Wal-Mart lowered its forecast for the year ending in January to a range of 4.40 USD to 4.70 USD from its outlook of 4.70 USD to 5.05 USD in February. The consensus was for 4.77 USD per share. (portfolio.hu)
Related news
Biggest family businesses keep going strong
Family businesses are growing faster than the global economy –…
Read more >U.S. retail sales grew less than expected in March
In March, retail sales in the U.S. grew less than…
Read more >U.S. retail sales increased in February
In the United States, retail sales grew moderately in February…
Read more >Related news
Tesco is introducing cheaper own-brand products in its Expressz stores
Tesco is introducing cheaper own-brand products in its Expressz stores…
Read more >Diageo was the main sponsor of the domestic round of the Young Cannes Lions international creative competition
This year, Diageo was also the main sponsor of the…
Read more >NGM: the lives of families are significantly affected by food and health expenses and fuel prices
According to the surveys, the most significant expenses of the…
Read more >