Walmart Q2 profits disappoint

BENTONVILLE, Ark. ― Walmart cut its earnings outlook for the year as Q2 profits fell short of expectations, declining by 11.4%, while revenue exceeded them. The retail giant continues to battle tough competition, especially on the online front from Amazon. Revenue from stores open a year or more increased by 1.5%, much of which is attributable to a 7.3% spike at the smaller Neighborhood Markets.