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International Business Times
International Business Times
Business

Walmart Sales Rise But Shares Tumble On Forecast

Walmart has scored gains with higher income consumers, but shares fell on a disappointing forecast (Credit: AFP)

Walmart reported solid fourth-quarter results Thursday behind higher US sales, but shares tumbled after its quarterly and annual projections missed estimates.

The retail heavyweight, the biggest US private-sector employer, pointed to strength in grocery and pharmaceutical sales in its home market as more high-income shoppers are drawn in for its value proposition.

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