Wal­mart Q2 Sales Growth Weak­est in FIve Years

The Economic Times - - Front Page -

Wal­mart Stores fore­cast sec­ond-quar­ter profit be­low an­a­lysts' es­ti­mates af­ter reporting its small­est growth in quar­terly sales in nearly five years, as a se­vere win­ter kept shop­pers from its stores. Wal­mart is the lat­est re­tailer to flag a colder-than-usual win­ter for weak sales. Depart­ment store op­er­a­tor Macy's on Wed­nes­day cited the harsh win­ter for a 1.7 % de­cline in quar­terly sales. "Like other re­tail­ers in the US, the un­sea­son­ably cold and dis­rup­tive weather neg­a­tively im­pacted US sales and drove op­er­at­ing ex­penses higher than ex­pected," CEO Doug McMil­lon said in a state­ment. The com­pany said its sec­ondquar­ter fore­cast re­flected in­creased in­vest­ments in its mem­ber­ship only Sam's Club stores and higher costs re­lated to the cuts in the food stamp pro­gram.

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