Wal-Mart cuts profit forecast on slow sales

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NEW YORK — Wal-Mart Stores Inc., the world's largest retailer, reported stagnant same-store sales and cut its earnings forecast for the year, hurt by higher health-care costs and slow traffic at its supercenters.

Earnings for the year will now be $4.90 to $5.15 a share, down from a previous range of as much as $5.45, the Bentonville, Ark.-based company said Thursday in a statement. Sales at U.S. Wal-Mart and Sam's Club stores open at least 12 months were little changed last quarter, which ended Aug. 1.