Analysts Say Wal-Mart May Miss Forecasts
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Wal-Mart Stores Inc. may miss fiscal fourth-quarter earnings forecasts because the No. 1 retailer’s widening sales lead over competitors is coming at the expense of profit margins, analysts said.
With steep price cuts and a growing portion of sales coming from lower-profit items, earnings may fall short of the 48-cent average analyst estimate, Wayne Hood of Prudential Securities and Emme Kozloff of Sanford C. Bernstein wrote in separate reports.
Wal-Mart spokesman Tom Williams declined to comment. Last month, the Bentonville, Ark., chain said it would meet forecasts of 48 cents a share.
Wal-Mart shares fell 28 cents to $55.34 on the NYSE.
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