Wal-Mart Results Miss Estimates as Currency Crimps Earnings
Wal-Mart Not Meeting 'Best-in-Class Anywhere': Davidowitz
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(Bloomberg) -- Wal-Mart Stores Inc., the world’s largestretailer, posted first-quarter earnings that missed analysts’estimates after U.S. sales grew more slowly than projected andcurrency fluctuations ate into profit.
Earnings amounted to $1.03 a share, excluding some items,the Bentonville, Arkansas-based company said in a statementTuesday. Analysts had predicted $1.05 on average, according todata compiled by Bloomberg. Revenue also was light last quarter,with the company’s U.S. supercenters and Sam’s Club locationsposting slower growth than estimated.