By  on August 15, 2013

The challenging second quarter results and third quarter guidance revisions Wal-Mart Stores reported this morning are likely to rattle Wall Street as Macy's unexpected stumble unnerved the marketWednesday.

Wal-Mart on Thursday reported a higher second-quarter profit, as net sales grew 2.4 percent to $116.2 in the 13-week period ended July 26, from $113.3 in last year's second quarter. Total revenue was $116.9 billion, a 2.3 percent increase over $114.2 billion in last year's period.

Earnings per share were $1.24, a 5.1 percent increase over last year's $1.18. However, EPS and revenues missed analysts' expectations. Wal-Mart Stores chairman Mike Duke said in a recorded call that the retailer's U.S. and international retail environments continue to be challenging with customers cautious about spending.

 

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