There is disappointment with the latest numbers of Wal-Mart Stores, the US supermarket giant. Annual forecasts are below analysts' expectations. The giant also announced that the growth in turnover will suffer the negative effects of tax increases, more difficult credit conditions and the reduction of food stamps for millions of Americans. A fact, the latter, which should not be underestimated, given that one customer out of 5 makes use of these vouchers, according to the analyst Tal Lev, from Cowen, heard from the French site Boursorama.
Revenue growth this year will be on the low end of the forecast range of 3 to 5%, said Chief Financial Officer Charles Holley.
Wal-Mart Stores ended the fourth quarter with profit of $4,43 billion, down from $5,61 billion a year earlier. Revenues increased to $129,71 billion from $127,78 billion while adjusted EPS was $1,60. Analysts had forecast EPS of $1,58 on revenues of $129,74 billion. The board has proposed a quarterly dividend of $0,48 per share. For the first quarter of 2014, the company estimates earnings per share between $1,1 and $1,2.
At the end of last month, the US group had warned that its results would be affected by the extraordinary charges associated with the closure of its branches in Brazil and China and with the restructuring of the Sam's Club chain in the United States.
