Walmart fourth quarter earnings drop - KNOE 8 News; KNOE-TV; KNOE.com |

Walmart fourth quarter earnings drop

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© MGN Online © MGN Online

NEW YORK (KNOE 8 News/AP) - Wal-Mart Stores Inc. is offering a profit outlook below Wall Street expectations as economic pressures weigh on its low-income shoppers around the world.

The world's largest retailer also saw its fourth-quarter profit drop 21 percent.

Wal-Mart, based in Bentonville, Ark., said Thursday that it earned $4.43 billion, or $1.36 per share, in the quarter ended Jan. 31. That compares with $5.6 billion, or $1.67 per share, a year earlier.

Excluding charges related to closing stores in Brazil and China, Wal-Mart earned $1.60 per share.

Net revenue was up 1.4 percent to $128.79 billion.

Analysts were expecting $1.59 per share on revenue of $129.9 billion, according to FactSet.

Revenue at stores open at least a year fell 0.4 percent, the fourth consecutive quarterly decline.

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