Walmart Blames Sluggish Sales On Taxes, Enjoys Lower Effective Tax Rate
Wal-Mart Stores, Inc., (Walmart) had mostly good news for Wall Street yesterday when it reported earnings of $3.78 billion, or $1.14 per share, in the first quarter. Those earnings were consistent with Walmart’s expectations of $1.11 to $1.16 per share and just short of analysts’ average forecast of $1.15 per share. Those earnings were likely…