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The Boston Globe

Business

Walmart results hit by weather, late refunds

Despite several quarters of controversy over bribery allegations in Mexico, Walmart’s profitable earnings and strong sales in recent quarters made it a Wall Street darling, with its stock price hitting a record high Wednesday.

On Thursday, though, the company’s financial picture worsened as it reported quarterly results that missed analysts’ expectations, citing everything from a cold spring to late tax refunds, and the stock price began to decline.

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