Wal-Mart Stores Inc is offering a profit outlook below Wall Street expectations as economic pressures weigh on its low-income shoppers around the world.
The world's largest retailer also saw its fourth-quarter profit drop 21 percent.
Wal-Mart, based in Arkansas, said today that it earned USD 4.43 billion, or USD 1.36 per share, in the quarter ended Jan. 31. That compares with USD 5.6 billion, or USD 1.67 per share, a year earlier.
Excluding charges related to closing stores in Brazil and China, Wal-Mart earned USD 1.60 per share.
Net revenue was up 1.4 percent to USD 128.79 billion.
Analysts were expecting USD 1.59 per share on revenue of USD 129.9 billion, according to FactSet.
Revenue at stores open at least a year fell 0.4 percent, the fourth consecutive quarterly decline.
