Why Walmart stock is sliding despite Q4 beat

Walmart reported stronger-than-expected fourth-quarter results on Thursday, but its shares slid after the retailer forecast annual sales and profit below Wall Street expectations. The world’s largest retailer posted a nearly 6% rise in quarterly sales, with both earnings and revenue topping analysts’ estimates. Still, the Walmart stock fell more than 3% after the company projected more modest gains for its current fiscal year, even as it unveiled a fresh $30 billion share-repurchase programme. Subdued outlook weighs on shares For the current fiscal year, Walmart said it expects net sales to grow between 3.5% and 4.5%, while adjusted earnings per share are forecast to range from $2.75 to $2.85. That outlook fell short of Wall Street expectations of $2.96 per share,…