Wal-Mart first-quarter same-store sales miss estimates

[CHICAGO] Wal-Mart Stores Inc, the world's largest retailer, reported lower-than-expected US same-store sales growth, sending its shares down 2 per cent in pre-market trading on Tuesday.

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

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

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

REUTERS