Wal-Mart Stores Inc.,
the world’s largest retailer, cut its outlook for the rest of the year
after reporting second-quarter earnings that fell below expectations.
The disappointing performance, coupled with pessimistic
forecasts from Macy’s Inc. and Kohl’s Corp. this week, seems to indicate
that Americans are stuck in an economic holding pattern, analysts said.
“The retail environment remains challenging in the U.S. and our
international markets, as customers are cautious in their spending,”
said Chief Financial Officer Charles Holley in a statement. Read more...
