Wolfe Research Securities: Wal-Mart

Wal-Mart: Same-store sales at U.S. stores and the Sam's Club warehouse division will be less than projected, the Bentonville, Ark.-based company said in a statement. Wal-Mart said in November that profit per share in the quarter ending Friday would be $1.60 to $1.70 all figures US . Analysts estimated $1.65, on average. , according to Hamilton Spectator. "They've lost a lot of their advantage here in the U.S. on pricing," Scott Mushkin, an analyst at Wolfe Research Securities in New York, said today in a telephone interview. "The international business has not been performing where they hoped or where investors hoped." NEW Wal-Mart Stores Inc. said Friday that fourth- quarter profit will be at or below the low end of its forecast because of extra costs in Brazil and lower food-stamp benefits and winter storms that hurt U.S. sales. Wal-Mart, already grappling with a holiday season marked by profit-eating discounts, said the reduction in the U.S. government's Supplemental Nutrition Assistance Program that went into effect on Nov. 1 hurt sales more than expected. The company is also facing higher tax liabilities and employment claims in Brazil. (www.immigrantscanada.com). As reported in the news.