Retail giant Walmart announced on Saturday (31 December) that its December same-store sales growth has come in at a disappointing 2.2%, the lower end of the predicted range of 2-4%.
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It is the lowest December sales growth rate reported by the company in the past five years.
According to Schaeffer’s Investment Research, investors have not taken these results well, with Walmart dropping approximately 2% in early trading yesterday (3 January).
The results have also adversely affected other food retailers, who have seen stock value waver as commentators lower their predictions for December sales.
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By GlobalData
