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Empresas y finanzas

Wal-Mart gives weak forecast amid higher taxes, tighter credit


    (Reuters) - Wal-Mart Stores Inc gave a profit forecast for the year that missed analyst expectations and said sales growth would be hurt by reduced government benefits, higher taxes and tighter credit this year.

    As a result, Wal-Mart expects net sales this year to grow at the lower end of its previous forecast range of 3 to 5 percent growth, Chief Financial Officer Charles Holley said in a statement on Thursday.

    The world's largest retailer expects a profit of $5.10 to $5.45 per share this year. Analysts expect about $5.54 a share, according to Thomson Reuters I/B/E/S.

    Wal-Mart also reported another quarter of declines in comparable sales at its U.S. stores, its biggest unit, which fell 0.4 percent in the three months through January 31 - which included the crucial holiday season. Overall revenue grew 1.4 percent to $129.7 billion.

    The company had warned that its holiday quarter profit would be lower than expected, eroded by reduced food-stamp benefits for millions of Americans, among other challenges. The retailer faced stiff competition in what many analysts said was the most heavily promoted and discounted holiday season since the recession.

    The company earned $1.60 per share excluding items, down from $1.67 a year earlier, but one cent better than expected.

    (Reporting by Phil Wahba in New York; Editing by Lisa Von Ahn and Bernadette Baum)