Walmart Had Weak Holiday Period

NEW YORK (Reuters) - Retail behemoth Walmart Inc (WMT.N) on Tuesday reported a lower-than-expected quarterly profit and posted a sharp drop in online sales growth during the critical holiday period, sending its shares down almost 4 percent in premarket trade. The retailer said much of the online slowdown was planned as it continued to invest in growing the business but also cited operational problems around inventory replenishment that hurt sales growth. Excluding special items that crimped profits such as restructuring charges and an impact from offering a one-time bonus to employees, earnings came to $1.33 per share in the fourth quarter ended Jan.