As Americans' financial fortunes go, so goes Wal-Mart. The world's largest retailer on Thursday reported that a lower tax rate boosted net income by 8.6 percent during the fourth quarter, but the company offered a tempered forecast as its lower-income shoppers struggle with rising gas prices, delayed income tax refunds and higher payroll taxes.
Topics: charles holley bentonville ark internal revenue service jan congressional bill simon super bowl social security jp morgan november exchange commission brazil china india ceo mike duke wall street bloomberg shares americans wal-mart december february u.s simons american mexico foreign corrupt practices act outlook year tax billion percent company quarter retailer thursday income shoppers payroll forecast fourth rate analysts investors officials refunds customers month earnings results report sales financial taxes estimates struggle spending economic compared weeks home working compliance pay world net rose law related current expects fell government million expecting challenges
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