Wal-Mart sales miss Wall Street view; shares down
November 15, 2012 11:42 PM EST
Wal-Mart Stores Inc reported quarterly sales below analysts' expectations on Thursday, with sales at established U.S. discount stores up, but not as much as Wall Street expected.
Wal-Mart shares fell 2.7 percent to $69.40 in premarket trading.
Still the world's largest retailer also said sales so far this month were better than expected in the United States as its focus on low prices has resonated in an economy where unemployment continues to be high.
Sales for the third quarter ended October 31 rose 3.4 percent to $113.20 billion. Analysts on average had forecast $114.96 billion, according to Thomson Reuters I/B/E/S.
The world's largest retailer said it had earned $3.64 billion, or $1.08 per share in the third quarter ended October 31, up from $3.34 billion, or 97 cents per share, a year earlier.
Analysts on average had forecast $1.07 a share.
(Reporting by Brad Dorfman in Chicago and Jessica Wohl in Cincinnati; Editing by Lisa Von Ahn)
Most Popular Slideshows
- Still The World Champions: Team USA Overpowers Serbia, 129-92 To Win 2014 FIBA World Cup [PHOTOS]
- Pope Francis: World War III Has Started On Piecemeal
- After Win Over Maidana, Mayweather Says He Is Prepared To Negotiate A Fight With Pacquiao
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
Join the Conversation
- Samsung Attacks iPhone 6 Plus Through New Galaxy Note 4 Commercial: Apple Claims Imitating Galaxy Note Phablets
- Pregnant Kate Middleton May Call Off Malta Trip Due To Sickness: Royal Couple Will Move To Anmer Hall Residence
- HTC ‘Double Exposure’ Event On October 8 Could Unveil HTC Eye With 5.2-inch FHD Display
- Apple iOS 8 Can Trump Google Android 5.0 L Upon September 17 Release
- Ukraine Crisis: Poland Denies Supplying Weapons To Kiev
- Twitter Photo Of British Medical Muslima Student Holding Severed Head
- Google Nexus 8 Release Date Countdown Begins Oct 8: 8 Killer Specs and Features to Expect