Executive Briefings

Hold the Economic Optimism, Please. Wal-Mart, eBay Predict Lower Sales Growth.

Bellwether retailers eBay and Wal-Mart have reduced their expectations of sales growth for the current fiscal year, blaming the lower outlooks, in part, on the stronger dollar.

EBay lopped off $300m, or 7 cents per share, from its annual revenue forecast for 2014, while Wal-Mart, which recorded $473.1bn in sales in its last fiscal year, said it now expects sales to rise 2 percent to 3 percent in the year ending Jan. 31, 2015. It had previously estimated growth at the low end of a 3 percent to 5 percent range.

The retailers’ revised forecasts suggest that the all-important holiday season may turn out to be weaker than some analysts predicted quite recently, Reuters reports.

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EBay lopped off $300m, or 7 cents per share, from its annual revenue forecast for 2014, while Wal-Mart, which recorded $473.1bn in sales in its last fiscal year, said it now expects sales to rise 2 percent to 3 percent in the year ending Jan. 31, 2015. It had previously estimated growth at the low end of a 3 percent to 5 percent range.

The retailers’ revised forecasts suggest that the all-important holiday season may turn out to be weaker than some analysts predicted quite recently, Reuters reports.

Read Full Article