"Our business members continue to experience economic pressure and uncertainty," said Rosalind Brewer, president of Sam's Clubs.
For the full year, Wal-Mart now said it expects earnings per share to be between $4.88 per share and $4.93 per share. It originally expected earnings per share of $4.83 to $4.93. For the fourth quarter, it forecasts earnings per share to be $1.53 per share and $1.58 per share. Analysts had expected $1.59 per share.
Separately, in a filing with the U.S. Securities and Exchange Commission, Wal-Mart said Thursday that it was looking into potential violations related to the Foreign Corrupt Practices Act in Brazil, China and India. This comes after Wal-Mart initially began investigating its Mexico operations following report that surfaced in April that the retailer allegedly failed to notify law enforcement when company officials authorized millions of dollars in bribes in Mexico to speed building permits and gain other favors. The company continues to work with government officials in the U.S. and Mexico on that investigation.
On Thursday, Wal-Mart's stock fell $2.59 to close at $68.72 Thursday. Over the past 52 weeks, Wal-Mart stock has been trading between $56.26 and $77.60.
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