Latest figures out from the US retail giant
- yy prev $70.6bln
- global net sales $119.33 bln vs 119.34 prev
- Q2 EPS $1.08 vs $1.12 exp
- total revenues $120.23bln vs 120.13bln
- updates full year EPS guidance to a range of $4.40 -4.470 from $4.70-5.05
- currency exchange rates negatively impacted EPS by approx. $0.04 in Q2
Comments from Wal Mart:
- we continue to be impacted by currency exchange fluctuations
- operating profit to be pressured for the remainder of the year due to continued investments in store associate wages and additional hours
USD strength unsurprisingly featuring in the report and giving cause for concern as Wal Mart cuts full year earnings guidance
Full report here and it won't be lost on the FOMC
