It's sad that so many people, including many children, are going hungry, but there is black humor in the fact that the Waltons give a lot of money to Republican politicians, who are the ones who insisted on cutting the food stamp program.http://www.reuters.com/article/2014/01/31/us-walmart-outlook-idUSBREA0U0YK20140131
By Dhanya Skariachan
NEW YORK Fri Jan 31, 2014
(Reuters) - Wal-Mart Stores Inc (WMT.N) cut its quarterly profit outlook because of a host of issues, including reduced food stamp benefits for millions of Americans, the restructuring of Sam's Club unit in the United States and the closure of stores in Brazil and China.
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Wal-Mart said Friday that it expected to report earnings for the fourth quarter ending on January 31 at or slightly below the low end of its previous forecast of $1.60 to $1.70 a share.
"Wal-Mart caters to lower-income consumers which have been hit disproportionately hard," said Morningstar analyst Ken Perkins.
About 20 percent of the company's shoppers are food stamp users, according to Cowen analyst Tal Lev.
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