Wal-Mart Doesn't Live Up To Expectations

Wal-Mart has predicted that its earnings for this quarter will be lower than Wall Street analysts' expectations. Consumer spending has decreased as a result of high fuel prices. Wal-Mart's first-quarter earnings took a hit for this same reason, and the company doubts that it will hit its full-year targets as well. Wal-Mart expects its second-quarter earnings to be between 63 cents to 67 cents per share. Analysts were expecting 70 cents a share. President and CEO Lee Scott comments on the company's first-quarter results, "We achieved record results in the quarter. Yet with higher gasoline prices and a cooler and wetter spring than normal, we missed our plan. We are making the necessary adjustments and I anticipate better results in the second half of the year." MarketWatch Murdok. Visit Murdok for the