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Thursday, August 14, 2014

Wal-Mart declining

Wal-Mart on Thursday reported comparable U.S. sales were unchanged in the three months ended July 31, extending a streak of quarters without growth to six in the key metric, which blends e-commerce with sales at stores open at least a year.
(They had actually declined in each of the previous five quarters, if that’s any consolation to the company. And overall U.S. sales grew thanks to new store openings.)
The world’s largest retailer also cut its profit forecast for the year, blaming higher than expected health care costs for employees and saying it would ramp up its spending on its e-commerce capacity.

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