FRANCHISE HERALD
Sunday September 20, 2020

updated - September 20, 2020 Sunday EDT

Walmart Sales Fall: Supermaket Chain Fails to Meet Analysts Predictions

Aug 15, 2013 11:16 AM EDT | By Justin Stock
Tags
Walmart, Shares
Close
Wal-Mart
A disabled Wal-Mart employee is back to work after being let go for reportedly coming back late from lunch. (Not pictured)(Photo : Reuters)

Walmart's same-store sales fell 0.3 percent which failed to meet the one percent prediction from analysts according to USA Today.

Company chief financial officer, Charles Holley, told USA Today in a statement that the retail business is a tough one.

"The retail environment remains challenging in the U.S. and our international markets as customers are cautious in their spending," Holley said.

The world's largest retailer also thinned annual profit and guidance because of struggling economic circumstances, and looking into possible infractions of an anti-bribery law case at the federal level USA Today reported.

"(The guidance revision) reflects our view of current global business trends, and significant ongoing headwinds from anticipated currency exchange rate fluctuations ," Holley said.

Walmart's profit in the second quarter increased to $4.07 billion or $1.24 a share from $4.02 billion or $1.18 a share USA Today reported. The retail chain's revenue increased 2.3 percent to $116.9 billion from $114.3 billion.

The company expects to make $5.10 to $5.30 a share this fiscal year down from its former projection of $5.40 a share USA Today reported.

According to USA Today, United states consumer bellwether's shares decreased more than 2 percent to $74.40.

The company reports that 245 million human beings spend time at their 10,800 stores, some of which are located in 27 countries, and in an e-commerce capacity in 10 countries and, according to the company website,  2.2 million people are employed by Walmart all over the world.

Get the Most Popular Franchiseherald Stories in a Weekly Newsletter
© 2015 Franchise Herald. All rights reserved.
>>>>>>> 10460c7d066ded6bd40ea293096592303635a9b7 <<<<<<< HEAD ======= >>>>>>> 10460c7d066ded6bd40ea293096592303635a9b7
<<<<<<< HEAD ======= >>>>>>> 10460c7d066ded6bd40ea293096592303635a9b7

Connect With Franchise News

Email Newsletter

TOP 10 FRANCHISES OF 2020

  • RANK
    FRANCHISE NAME
    STARUP COSTS
  • 1nc
    Hampton Hotels
    $3.7M - 13.52M
  • 2nc
    Subway
    $85.2K - 260.35K
  • 3up
    Jiffy Lube Int'l. Inc.
    $196.5K - 304K
  • 4down
    7-Eleven Inc.
    $30.8K - 1.64M
  • 5up
    Supercuts
    $103.55K - 196.5K
  • 6up
    Anytime Fitness
    $56.3K - 353.9K
  • 7down
    Servpro
    $133.05K - 181.45K
  • 8down
    Denny's Inc.
    $1.18M - 2.4M
  • 9down
    McDonald's
    $1M - 2.16M
  • 10down
    Pizza Hut Inc.
    $295K - 2.15M
Real Time Analytics