Wal-Mart shares tumble as it cuts 2017 sales forecast
New York economy
New York - Arab Today
Wal-Mart Stores trimmed its sales forecast for fiscal 2017 Thursday due to store closures and the strong dollar as it reported lower fourth-quarter earnings.
The world's biggest retailer now expects fiscal 2017 sales to be flat, down from the previous outlook for three to four percent growth. Walmart's fiscal 2017 started February 1. Shares fell 4.9 percent in pre-market trade.
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