Wal-Mart Earnings Miss Estimates; Company Cuts Outlook

Investing.com

Published Aug 18, 2015 09:22AM ET

Wal-Mart reported weaker-than-expected quarterly earnings and lowered its full-year forecast on Tuesday. Net profit fell to $1.08 per share, in the second quarter from $1.21 per share, a year earlier. Analysts on average had expected $1.12 per share. Revenue came to $120.2 billion in the second quarter, roughly unchanged from a year earlier. Wal-Mart said its profits were pushed down by a decision to increase worker hours as part of its push to improve customer service. It also cited weaker margins in the pharmacy business and "shrink", a term in the retail industry that generally refers to losses due to theft in the store.
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