Walmart Pares Full-Year Profit Forecast Amid Flat U.S. Comp Sales

Walmart cut its full-year profit forecast amid flat U.S. same-store sales that follow a string of declines. Walmart reported adjusted earnings of $1.21 a share for its fiscal second quarter, in line with analyst estimates. Revenue rose by 2.8%, more than expected, to about $120.1 billion. Walmart now expects full-year earnings a share to range between $4.90 and $5.15, versus its previous guidance of $5.10 to $5.45. President and CEO Doug McMillon said the company sees opportunities to improve in merchandising, pricing and store level service in its supercenters and is working to close those gaps.