Thursday, February 20, 2014

Wal-Mart's 4Q profit falls 21 pct; outlook weak

The AP reports:
Wal-Mart Stores Inc. offered a weak profit outlook Thursday, signaling that it expects economic pressures to keep weighing on its low-income shoppers around the world.

The world's largest retailer also said its fourth-quarter profit, which covers the crucial holiday season, dropped 21 percent. Its Wal-Mart stores recorded their fourth consecutive quarter of declines in revenue at stores open at least a year.
No word yet on whether this will affect Wal-Mart's "contributions" to the leftist Center For American Progress where Professor Eric Alterman is a fellow.