Wal-Mart Stores Inc. on Thursday reported adjusted earnings of $1.60 per share, one penny higher than analysts’ expectations. Total revenues rose 1.5 percent to $129.7 billion, from $127.8 billion, slightly under the $130 billion predicted by analysts. Profits fell to $4.43 billion.
“We expect economic factors to continue to weight on our outlook,” said chief financial officer Charles Holley, noting guidance of $1.10 to $1.20 per share, lower than the $1.24 expected by analysts. The economic concerns, said Holley, “combined with investments in e-commerce, will make it difficult to achieve the goal we have of growing operating income at the same or a faster rate than sales.”
In October, Wal-Mart forecasted a 3 percent to 5 percent net sales increase for fiscal 2015. “Given these factors and the ongoing headwind from currency exchange, we expect to be at the low end of the net sales guidance,” Holley said.