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Wal-Mart warning of weak net profit ahead

The cut in food stamp effective Nov 1 will be one of the reasons for the superstore weak sales. Moreover, the government new farm bill could cut another 90 dolllar a month in benefit for 850,000 food stamp recipients which would result in a saving of almost 1 billion a year to the government.

Another factor affecting the company financial performance is bad weather. Additionally, the company will have to report a charge associated with cutting 2,300 jobs and closing some of Sam’s clubs store. The warning is taken to mean that the company will report a drop in earnings in the quarter ended Friday.