Improved international sales did little to quell anxieties for Wal-Mart (WMT) investors Thursday as the company came forward with unimpressive domestic results for the fiscal fourth-quarter.
Shares of the retail goliath slipped 1.7% down to $53.13 Thursday after reports revealing same-store sales tumbles 1.6 percent in the U.S.. Much of the domestic damage was negated by international sales of $112.8 billion; however, the world’s largest retailer failed to meet analyst expectations of $114.4 billion.
Wal-Mart predicted lukewarm earnings for the present quarter of between 81 and 85 cents. Coupled with a 2011 forecast in the ballpark of $3.90 to $4.00, with analyst estimates at $3.97, investors were prompted to shed shares on Thursday.
In the quarter that came to a close on Jan. 31, Wal-Mart brought in $4.6 billion, or $1.21 per share a 21.1 percent improvements from a year ago when the company earned a profit of $3.8 billion, or 96 cents per share.
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