Wal-Mart first quarter same-store sales miss estimates

Reuters News
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Posted: May 19, 2015 7:11 AM

(Reuters) - Wal-Mart Stores Inc <WMT.N>, the world's largest retailer, reported lower-than-expected U.S. same-store sales growth, sending its shares down 2 percent in premarket trading on Tuesday.

The company reported a 1.1 percent rise in same-store sales in the United States, missing the consensus of an increase of 1.5 percent, according to analysts polled by research firm Consensus Metrix.

Net profit attributable to Wal-Mart fell to $3.34 billion, or $1.03 per share, in the first quarter ended April 30, from $3.59 billion, or $1.11 per share, a year earlier.

Total revenue fell slightly to $114.83 billion from $114.96 billion.

(Reporting by Nathan Layne in Chicago and Sruthi Ramakrishnan in Bengaluru; Editing by Simon Jennings)