Wal-Mart Slips as Outlook Disappoints - TheStreet

Wal-Mart Slips as Outlook Disappoints

First-quarter earnings are a penny better than expected.
Author:
Publish date:

Wal-Mart's

(WMT) - Get Report

first-quarter earnings edged past Wall Street's estimates, but shares of the world's biggest retailer declined after its forecast for the current quarter left the door open for a possible slight shortfall.

For the first quarter ended April 30, Wal-Mart earned $3.02 billion, or 76 cents a share, up from last year's $2.83 billion and 68 cents a share. Analysts were looking for 75 cents in the latest quarter.

Sales rose 10.2% year over year to $94.1 billion. U.S. comparable-store sales were up 2.9% for the quarter, excluding fuel sales. With fuel sales, comps climbed 3.3%.

As for the second quarter, Wal-Mart is predicting earnings of 78 cents to 81 cents, whereas the consensus estimate is 81 cents. Same-store sales will probably be flat to up 2%.

Cramer: Retail Won't Hold Up

var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 1551542510; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);

Shares of Wal-Mart were down 2.4%. Competitor

Target

(TGT) - Get Report

lost 0.4%.

Costco

(COST) - Get Report

added 0.4%.

This article was written by a staff member of TheStreet.com.