Walmart Profit Fell 8% in 4th Quarter

February 18, 2016 8:52 PM

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Walmart Profit Fell 8% in 4th Quarter

Walmart said on Thursday that profit fell about 8 percent last quarter, and it lowered its sales forecast for this year, citing a strong dollar and the costs of a plan to close more than 200 stores worldwide.

Walmart, based in Bentonville, Ark., has been fighting for a firmer footing in a retail market increasingly dominated by the online behemoth Amazon.

Also read: U.S. first quarter growth weakest in three years as consumer spending falters

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