Subscribe Register Login

Tuesday, September 23, 2014, 9:24 a.m.
Top Picks - Capture Arkansas

Wal-Mart foresees 4th-quarter profit at low end of forecast

By ArkansasOnline

This article was published January 31, 2014 at 7:42 a.m.

Bentonville-based Wal-Mart Stores Inc. on Friday said fourth-quarter profit will fall at or just below the low end of its previous forecast, citing a reduction in food-stamp benefits and hits to U.S. sales caused by winter storms.

U.S. same-store sales and those in the company's Sam's Club warehouse division will be less than forecast for the quarter ending Friday, the company said in a statement. The retailer cited a greater-than-expected negative effect on sales from the Nov. 1 reduction of Supplemental Nutrition Assistance Program, or food stamp, benefits, plus eight named winter storms that resulted in store closures and drove down customer traffic.

In reviewing its third-quarter performance on Nov. 14, the world's largest retailer projected fourth-quarter earnings per share of $1.60 to $1.70 and full-year guidance of between $5.11 and $5.21.

“We now anticipate that our underlying EPS for the fourth quarter of fiscal 2014 will be at or slightly below the low end of our range of $1.60 to $1.70,” Wal-Mart Stores Inc. Chief Financial Officer Charles Holley said in a Friday statement. “For the full year, we expect underlying EPS to be at or slightly below the low end of our range of $5.11 to $5.21."

The company said four previously undisclosed discrete items — listed as Brazil non-income-tax contingencies; Brazil employment-claim contingencies; China store lease expenses; and Sam's Club U.S. staff restructuring and a club closure — would cut quarterly earnings per share an estimated 15 cents.

Wal-Mart plans to issue its fourth-quarter and fiscal 2014 earnings results, plus its projections for fiscal 2015, at 7 a.m. Feb. 20.

Comments on: Wal-Mart foresees 4th-quarter profit at low end of forecast

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • General sales manager

    Mint Auto Restoration and Detailing Come join the #1 Auto Re...
    ROGERS, AR

  • Life skill tech

    maintenance assistantup to $17 an hour/DOEArkansas Pediatric...
    NORTH LITTLE ROCK, AR

  • Rn supervisor

    rn supervisor 3-11: Skilled nursing facility in search of 3...
    NORTH LITTLE ROCK, AR

  • Asst. dir facilities

    Assistant Director of Facilities Management Little Rock. Res...
    LITTLE ROCK, AR

  • Cna

    Butterfield Trail Village is now accepting applications for:...
    FAYETTEVILLE, AR

Search 970 jobs >

Top Picks - Capture Arkansas
Arkansas Online