Dive Brief:

• Frigid weather and cuts in food stamps that kept customers away from Walmart and Sam’s Club stores, plus unanticipated international expense hikes, have led to lower-than-expected sales, the Bentonville, Ark.-based company announced Thursday.

• Same-store sales at Walmart and Sam’s Club stores were expected to be flat, but will do worse, the company said.

• The news comes on the heels of the announcement of 2,300 layoffs at Sam’s Club stores. 

Dive Insight:

Wal-Mart Stores Inc. doesn’t tend to make announcements like this —​ instead usually beating or at least meeting its forecasts —​ indicating that it is not usually taken by surprise. It looks as though incoming CEO Doug McMillon will be entering something of a dark tunnel when he takes over Feb. 1.