☰

Empresas y finanzas

Wal-Mart cuts outlook due to store closings, Sam's restructuring


    NEW YORK (Reuters) - Wal-Mart Stores Inc shaved its quarterly and fiscal-year outlooks to account for special items, including those tied to its store closures in Brazil and China and its Sam's Club restructuring in the United States.

    The world's largest retailer said on Friday that it expected earnings for the fourth quarter ending January 31 to be at or slightly below the low end of its previous forecast of $1.60 to $1.70 a share.

    For the full year, the company said earnings would be at or slightly below the low end of its prior outlook of $5.11 to $5.21 a share.

    Wal-Mart said it had closed about 50 stores in Brazil and China.

    The company added charges of 6 cents a share to account for tax-related liabilities in Brazil and 5 cents for employment claims there. It also expects to record a charge tied to certain store leases in China.

    The retailer said a charge for certain terminated franchise and supply agreements in India would be higher than it had previously estimated.

    Wal-Mart said it would report its fourth-quarter and fiscal-year results on February 20, as scheduled.

    Shares of Wal-Mart were down 0.9 percent at $74.05 in trading before the market opened.

    (Reporting by Dhanya Skariachan; Editing by Lisa Von Ahn)