Bad weather hurts Wal-Mart in 1Q, outlook weak

By Mae Anderson

Published May 15, 2014 4:50pm ET

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Bad weather hurts Wal-Mart in 1Q, outlook weak — FILE - In this May 9, 2013 file photo, a worker pushes shopping carts in front of a Walmart store in La Habra, Calif. Wal-Mart Stores Inc. is expected to report quarterly results on Thursday, May 15, 2014. (AP Photo/Jae C. Hong, File) | Jae C. Hong

NEW YORK (AP) — Wal-Mart’s first-quarter net income fell 5 percent as bad winter weather and financial struggles kept customers from spending at the world’s largest retailer.

The company’s shares fell nearly 2 percent as Wal-Mart reported results that missed Wall Street’s expectations for the third time in five quarters and gave a weak second-quarter earnings forecast.

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