NEW YORK (Reuters) - Wal-Mart Stores Inc reported a disappointing 1.7 percent rise in December sales at its U.S. stores open at least a year, and the world's largest retailer cut its quarterly earnings outlook on Thursday.
Analysts on average were expecting the company's same-store sales to rise 2.8 percent, according to Thomson Reuters. The discount retailer had said it expected December sales to be at the high end of its forecast for a gain of 1 percent to 3 percent.
For the fourth quarter that started on November 1, Wal-Mart said it expected earnings of 91 cents to 94 cents per share from continuing operations.
In November, Wal-Mart forecast fourth-quarter earnings per share of $1.03 to $1.07 from continuing operations, which at the time was below analysts' expectations of $1.11.
In December, the retailer said it would take an after-tax charge of about 6 cents per share in the fourth quarter related to the settlement of 63 class action lawsuits.
Wal-Mart shares fell 6.9 percent to $51.70 in premarket trade from their close of $55.54 on Wednesday on the New York Stock Exchange.
(Reporting by Martinne Geller; Editing by Lisa Von Ahn)
