Wal Mart Cuts Guidance
Wal-Mart (WMT) – REPORTS DECEMBERÂ SSS 1.7% V 2.7%E;
CUTS Q4 EPS GUIDANCE TO $0.91-0.94 V $1.06E ($1.03-1.07 PRIOR)
- Guides Jan SSS flat to +2.0%
- CEO: Due to the difficult economy and severe winter weather in some regions, the holiday season was more challenging for retailers than expected
- Our fourth quarter sales for Sam’’s Club and Wal-Mart International are trending below our expectations and our expenses are higher than anticipated.
This was a surprise for the market as it was expected that Wal Mart would do better than the other retail outlets as people switch from higher end chain stores to Wal-Mart. What we are seeing is that the deteriorating economy is even impacting the lowest member of the retail food chain.
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