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Walmart misses Wall Street’s forecast

Walmart posted quarterly earnings of $1.14 per share.
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Walmart posted quarterly earnings of $1.14 per share.

Walmart’s stock price hit a record high Wednesday. On Thursday, its reported quarterly results that missed analysts’ expectations, citing factors like a cold spring and late tax refunds. Net income rose 1.1 percent, to $3.8 billion, from a year earlier. US same-store sales fell for the first time since summer 2011, declining 1.4 percent, versus Walmart’s projection of around flat. Visits to stores also fell, by 1.8 percent. Internationally, sales grew 2.9 percent, to $33 billion. On a per-share basis, earnings were up 4.6 percent to $1.14 a share, a penny below analysts’ expectations.

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