Wal-Mart Cuts Profit Outlook

Wal-Mart Stores Inc. on Thursday cut its annual profit and revenue outlook, with the world’s largest retailer expecting a tough economy at home and abroad to continue to squeeze its lower-income shoppers through the rest of the year, the Associated Press reports. Retail analyst Howard Davidowitz tells Yahoo Finance’s Breakout blog that the earnings disaster exposes the collapsing economy more than Wal-Mart’s missteps.