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Walmart Misses Earnings

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WILL IT STILL MAKE GOOD ON ITS JOBS PROMISE TO SOUTH CAROLINA?

|| By FITSNEWS || Back in 2011, Walmart promised to bring 4,000 new jobs to South Carolina by 2016.

Which presumes working at Walmart is a “job.”

Anyway, is the discount retail giant on track to meet its goal?  Eh.  In April 2013, the company told us its total of “new and expanded stores, along with stores currently under construction or out for bid” in the Palmetto State equated to 2,000 new jobs.  But since then Walmart has been struggling.

In fact this week’s earnings report continued that trend.  Walmart posted first quarter revenues of $114.8 billion (ah, those “Great Value” deals) – which missed analysts’ expectations of $116.2 billion.

Earnings per share clocked in a $1.03 – missing estimates of $1.05 – although the company said it expects second quarter earnings per share to come in between $1.06 and $1.18.

Really?

Wethinks Walmart is a bit optimistic there …

Anyway, we’ll continue to keep tabs on the company as we get closer to its May 4, 2016 deadline.  But our guess is Walmart will come far short of achieving its promised South Carolina job growth – making this yet another of governor Nikki Haley‘s job promises that didn’t pan out.

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