Walmart (WMT) cuts its outlook for the rest of the year. Unlike just about every other company, however, the cut and commentary weren’t apocalyptic.
The estimate cut was just a trim, mostly due to FOREX. Same-store sales projected up 1%-3%.
“For the full year, ending January 31, we have tightened and modestly reduced our guidance and now forecast diluted earnings per share from continuing operations to be within a range of $3.42 to $3.46″…
“Despite economic difficulties around the world, we achieved solid sales and earnings growth and we are optimistic about the upcoming holidays. At a time when our customer is feeling the pressure of a tough economy, Wal-Mart’s price leadership is more important than ever.
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