date:Nov 18, 2013
Wal-Mart Stores Inc., the worlds largest retailer, cut its annual profit forecast for the second time this year as the slow economic recovery and increased competition from dollar stores reflect on sales.
The group also offered a bleak outlook for the key holiday season, saying US sales in the period are likely to be relatively flat.
For the three months to 25 October, operating income was up 3.6%, to $6.3 billion, with sales growing by just 1.6% to $114.9 billion. However, in the US market, l