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WMT cuts sales outlook for fiscal 2015

Wal-Mart
Andrew Harrer | Bloomberg | Getty Images

Wal-Mart Stores Inc cut its full-year sales growth forecast, hurt by a stronger dollar and a bigger-than-expected impact from the cut in the government food stamp program last year.

Shares of the world's largest retailer fell 3.3 percent to $75.39 in late afternoon trading on Wednesday.

Chief Financial Officer Charles Holley, at a meeting with investors and analysts, said he expected Wal-Mart's sales to rise 2-3 percent from $473.1 billion last year.

The company said in February it expected net sales growth to be at the lower end of its 3-5 percent forecast.