Wal-Mart to Analysts: Don't Raise Outlook

[Pale Blue Dot]

http://www.reuters.com/newsArticle.jhtml;jsessionid=O4OAFGNPFA1C4CRBAEOCFFA?type=businessNews&storyID=3534918">Wal-Mart to Analysts: Don't Raise Outlook

Wal-Mart Stores Inc. WMT.N executives on Tuesday told analysts not to raise their earnings forecasts for the current quarter, even though sales have outpaced expectations.

"There are those of you out there in the crowd who have taken your estimates above (Wal-Mart's) guidance. Do that at your own peril," Thomas Schoewe, chief financial officer, said at an analysts meeting.

Wal-Mart on Monday reaffirmed its forecast for earnings of 45 cents to 47 cents per share for the third quarter, which ends in October. The world's biggest retailer said earnings were tracking in the middle of that range, but analysts on average expect 47 cents, according to Reuters Research, a unit of Reuters Group Plc.

<snip>

But Schoewe said the stronger sales won't necessarily mean higher profits because the retailer lowered prices on apparel more than it expected, and high fuel prices made it more expensive to move goods.

Bingo!

[cprise]

1. Haven't bought anythng there in almost a year

Must be working...

[kalian]

2. Same here...

and it feels GOOD not going into those stores. People are desperate
to buy things cheap since their endebted lives are preventing them from eating properly...