Wal-Mart Stores delivered quarterly earnings and revenue that fell short of analysts' expectations on Tuesday, hurt by the stronger dollar.
Shares of Wal-Mart moved lower in premarket trading immediately after the announcement. The stock was down 4 percent to $76.75 in midday trading.
The company reported a 1.1 percent rise in same-store sales in the United States, missing the consensus for an increase of 1.5 percent, according to analysts polled by research firm Consensus Metrix.
While those sales are nothing to get excited about, Wal-Mart has turned in three consecutive quarters of positive comps, said Budd Bugatch, Raymond James director of furnishings.
Bugatch said Wall Street got overly excited about the prospect of consumers spending gas savings in the retail sector following months of spiraling crude prices.
"It was something that bothered us. We think there were some other issues that the consumer would face. I think increased health-care costs, and obviously putting some money back in savings and reducing debt," he told CNBC's "Squawk Box."
Wal-Mart posted fiscal first-quarter earnings of $1.03 per share, down from $1.10 a share in the year-earlier period. The retailer said currency negatively impacted earnings by about 3 cents a share.
Revenue slipped to $114.83 billion from $114.96 billion.
Analysts expected Wal-Mart to post quarterly earnings of $1.04 per share on $116.21 billion in revenue, according to a consensus estimate from Thomson Reuters.