Wal-Mart Tumbles Most in 15 Years After Predicting Profit Slump

October 14, 2015 3:42 PM

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Wal-Mart Tumbles Most in 15 Years After Predicting Profit Slump

Wal-Mart Stores Inc. suffered its worst stock decline in more than 15 years after predicting a drop in annual profit, underscoring the giant retailer’s struggles to reignite growth.

Earnings will decrease 6 percent to 12 percent in fiscal 2017, which ends in January of that year, the Bentonville, Arkansas-based company said at its investor day on Wednesday. Analysts had estimated a gain of 4 percent on average, according to data compiled by Bloomberg.

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