Wal-Mart's 4th quarter earnings decline 7 percent - KWWL - Eastern Iowa Breaking News, Weather, Closings

Wal-Mart's 4th quarter earnings decline 7 percent


NEW YORK (KWWL) - Wal-Mart Stores Inc. said its fourth-quarter profit has fallen 7 percent.

The world's largest retailer saw its results hurt by the strong dollar and a charge that stemmed from settling a labor lawsuit. The company also said Tuesday that first-quarter earnings could miss Wall Street expectations.

The company posted earnings of $3.79 billion, or 96 cents per share in the quarter ended Jan. 31. That compares with $4.096 billion, or $1.02 per share a year earlier. Analysts surveyed by Thomson Reuters had expected earnings of 99 cents per share, excluding the lawsuit settlement.

Online Executive Producer Nate Leding

Powered by Frankly