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Wal-Mart Reduces Fourth Quarter Earnings Expectations

The company partially blames the cut to reductions in the Food Stamps program.
BENTONVILLE, ARKANSAS – Wal-Mart announced Friday they are expecting their fourth quarter earnings will be lower than previously expected, partially blaming cuts to the nation’s food stamps program.

Cuts to the Supplemental Nutritional Assistance Program, or SNAP, went into effect November 1, 2013 and come after years of expansion during the height of the recession. Congress allowed the expansion of benefits to expire, saving the government $5.5 billion.

Wal-Mart says bad weather over part of the country this winter is also affecting its financial performance.

The retailer is expected to release its fourth quarter and full fiscal year earnings reports February 20th.
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