“The company’s shares fell 5.5 percent and helped drag down the overall market.”

Wal-Mart reported a lower than expected quarterly profit on Tuesday. With the lower than expected quarterly profit, Wal-Mart also cut their expected full year earnings. “In an interview, Chief Financial Officer Tom Schoewe said Wal-Mart expected many of the trends it saw in the second quarter to continue in the current period, but the retailer was still “feeling pretty good” about prospects for the holiday season.”

There are 127 million customers that visit Wal-Marts or Sam’s Club stores every week. However, Wal-Mart has been struggling with the slower U.S. sale growth and will cut down the number of stores they will open this year. Wal-Mart plans to return to advertising its low discount prices to its target market of core low income customers.

[via NYTimes]

Tags: Wal-Mart, Sam’s Club, Retail Stores, Sam Walton, Stock Market

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