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Wal-Mart suffers lowered profits due to food stamp cuts in the federal budget

By Phil Wahba (Reuters) – Wal-Mart Stores Inc forecast a lower full-year profit than analysts expect, as fewer food stamps, higher taxes and tighter credit erode its sales, news that sent its shares down 1 percent in premarket trading on Thursday. The world’s largest retailer expects net sales growth this…

Walmart warns: Food stamp cuts hurt our profits

Walmart Friday said bad weather and cuts in food stamp support for the poor weighed on US sales and would hit earnings for its November-January fourth quarter. Wal-Mart Stores Inc., the world’s largest retailer and the country’s largest single private sector employer, said it now expects sales at its namesake…

Dutch pension group halts Wal-Mart investments over low wages and working conditions

(Reuters) – Dutch pension administrator PGGM Vermogensbeheer B.V. said on Monday it would no longer invest in Wal-Mart Stores Inc , saying the retailer was not willing to discuss its concerns, including possible labor issues in the United States. Wal-Mart, the world’s largest retailer, declined to comment. Wal-Mart “was not…

Wal-Mart seeks end to refiled gender-bias lawsuit

SAN FRANCISCO (Reuters) – Women who refiled a gender discrimination lawsuit against Wal-Mart Stores Inc have failed to come to grips with the landmark U.S. Supreme Court decision that ended their nationwide class action against the company, Wal-Martargued in a court filing. Plaintiffs alleging the world’s largest retailer denied them pay raises and promotions because of their gender are…

Wal-Mart sued in Texas for gender discrimination

(Reuters) – Wal-Mart Stores Inc. discriminated against female employees in Texas stores in pay and promotion decisions, according to a lawsuit filed on Friday in Federal Court in Dallas. The complaint is the second to be filed since a nationwide class action against the company was thrown by the Supreme…

Wal-Mart profit up, U.S. same-store sales fall

CHICAGO (Reuters) – Sales at Wal-Mart Stores Inc’s U.S. discount stores open at least a year fell 0.9 percent during its second quarter, marking the ninth straight quarterly decline as it tries to lure back bargain hunters. The world’s largest retailer said on Tuesday that it earned $1.09 per share…

Wal-Mart loses $187.6 million appeal over worker breaks

NEW YORK/CHICAGO (Reuters) – Wal-Mart Stores Inc has lost its appeal of most of a $187.6 million verdict for Pennsylvania hourly workers who accused the world’s largest retailer of denying them meal and rest breaks. A three-judge panel of the Superior Court of Pennsylvania on Friday said there was sufficient evidence for Philadelphia jurors in…

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