Walmart Cuts Profit Forecast as Earnings Fall Short of Estimates

August 18, 2015 12:41 PM

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Walmart Cuts Profit Forecast as Earnings Fall Short of Estimates

Walmart cut its annual profit forecast on Tuesday as the retail giant was hurt by a stronger dollar and lower margins in the United States, as well as more spending on wages and e-commerce.

The retailer also reported that its earnings for the second quarter came in at $1.08 a share, below analysts’ expectations of $1.12 a share. It said currency exchange rates were responsible for cutting earnings per share by about 4 cents.

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