Retailer’s Recent Profits Miss the Mark

Walmart says its recent profits missed Wall Street’s forecasts…And a recent pay hike for its employees is partly to blame. Walmart raised its minimum wage for workers last month to nine-dollars an hour. But the retailer says the increase will only help in the long-term, as workers will have more to spend. The company also blamed lower food prices and a drop in international revenue for the profit slump.


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