Wal-Mart Stores, Inc. (NYSE:WMT), long the world’s largest retailer, announced today that its profits would come in at the low end of analysts’ expectations for the year ending January 2015. The retailer stated that it expected profits per share to be $5.10 to $5.45. Bloomberg, in compiling analysts’ predictions, found the average of 28 estimates to be $5.55.
Slow economy slows growth
The retailer said that the U.S. economy has failed to make the recovery it needs and also cited cuts in benefits like food stamps for its disappointing profits.