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Walmart says it will probably impact future earnings

Walmart says that the coronavirus, which is causing many companies to shutter stores and cut back production, will likely affects its operations as well. 

“Currently we do anticipate some financial impact to the China business’’ in the first quarter and potentially in the second, said Brett Biggs, Walmart’s Chief Financial Officer, during the retailer’s investors day in New York City Tuesday.

The first quarter impact could amount to a loss of a couple cents per share.  

While Walmart is not currently having a problem with the shipping of its goods, a longer term disruption from the outbreak in China “could impact our business,’’ Biggs said.   

The nation’s biggest retailer spoke about the coronavirus as it discussed how its sales took a hit from other international challenges, such as unrest in Chile, as well as a shortened holiday season.

 Sales at stores open a year rose 1.9% in the quarter that ended Jan. 31, buoyed by strong growth in Walmart’s grocery services, and net sales internationally increased 2.3%.

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