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Wal-Mart's Q1 earnings down, stung by bad weather; offers weak outlook
Bentonville, Ark. -- Wal-Mart Stores posted disappointing results for its first quarter, with earnings down 5% as harsh winter weather kept shoppers away. The company also gave a weak earnings forecast for its current quarter that fell short of analysts' estimates.
For the period ended April 30, Wal-Mart earned $3.59 billion, compared with $3.78 billion a year ago, less than analysts expected. In addition to the unusually harsh winter weather, a higher-than-expected tax rate also hurt earnings, the retailer said.
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U.K.’s Orlebar Brown deploys NetSuite OneWorld; will use in U.S. expansion
London – U.K. swimwear and resort retailer Orlebar Brown has deployed NetSuite OneWorld to support its growth and continued global expansion. The company is leveraging NetSuite OneWorld's capabilities for financial consolidation, tax compliance support, and multi-currency and multi-language support point-of-sale (POS), for its Notting Hill store in London, as well as inventory management, order management and warehouse management to run its core mission-critical business processes.