Wal-Mart Cuts Profit Forecast Amid Slow Sales, Health Costs

Bloomberg reports:

Wal-Mart Stores Inc. (WMT), the world’s largest retailer, reported stagnant same-store sales and cut its earnings forecast for the year, hurt by higher health-care costs and slow traffic at its supercenters.

Earnings for the year will now be $4.90 to $5.15 a share, down from a previous range of as much as $5.45, the Bentonville, Arkansas-based company said today in a statement. Sales at U.S. Wal-Mart and Sam’s Club stores open at least 12 months were little changed last quarter, which ended Aug. 1.

Got that? "Hurt by higher health-care costs."