date:Aug 16, 2013
orecast flat U.S. same-store sales in the current quarter, which includes the back-to-school season. Back-to-school is often seen as a barometer for the holiday period, when retailers get about 30 percent of sales and 40 percent of profits.
Wal-Mart now expects overall sales to be up between 2 percent and 3 percent for the fiscal year, down from an earlier forecast of a rise of 5 percent to 6 percent. The retailer also cut its profit outlook by 10 cents per share, to a range of $5.10 to $5.30.