Wal-Mart Stores forecast second-quarter profit below analysts' estimates after reporting its smallest growth in quarterly sales in nearly five years, as a severe winter kept shoppers from its stores.
Shares of the world's largest retailer fell as much as 3.4 percent before the bell on Thursday. (Click here to track Wal-Mart shares following the report.)
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Wal-Mart is the latest retailer to flag a colder-than-usual winter for weak sales. Department store operator Macy's on Wednesday cited the harsh winter for a 1.7 percent decline in quarterly sales.