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NEW YORK (AP) – Walmart reported disappointing fourth-quarter profits after a sluggish and shortened holiday shopping season.
Overseas, violent social protests in Chile cut into international sales. Walmart also delivered a weak profit forecast for the year. It was a rare miss for the discounter, which has distanced itself from rivals through strong online grocery sales while holding its own against Amazon. Walmart is the first major retailer to report quarterly results, and the numbers underscore a multitude of challenges that retailers faced over the holidays. It was the shortest holiday shopping season since 2013, leaving retailers scrambling to figure out how to get people thinking about spending sooner.