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Sales soft at Walmart, Q3 challenging too
Walmart lowered its full year profit forecast early Thursday after reporting weaker that expected second quarter same store sales at its U.S. division and suggested global economic conditions remain challenging.
Total company net sales increased 2.8% to $116.7 billion on a constant currency basis and profits increased 1.3% to $4.1 billion while earnings per share grew 5.1% to $1.24. That was a penny below the consensus forecast of analysts, although earnings per share included a charge related to international operations that reduced earnings by a penny.
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Virtual Piggy focuses on growth initiative
LOS ANGELES — Virtual Piggy initiated a consumer acquisition campaign to start building its subscriber base. Throughout the past four months, Virtual Piggy has added more than 400,000 new accounts most of which are based in the U.S. and some which were recently added in Canada.