Walmart trims forecast for fourth quarter, cites scrapping of Bharti Retail venture a reason

Global retailer Walmart on Thursday trimmed its fourth-quarter profit forecast by 10 cents a share after scrapping a six-year venture with Bharti Retail in India and closing 50 stores in Brazil and China. "The net impact (of scrapping the India venture) is expected to be dilutive to earnings a share by $0.04," Walmart said. For the fourth quarter, Walmart expects earnings a share to be in the range of $1.50-1.60, it said.