Wal-Mart, the world’s largest retailer, cut its fourth quarter earnings forecast on Thursday, citing the impact of slower than expected sales at its Sam’s Club warehouse stores and international units.

The retailer, whose low cost Supercenters have outperformed other retailers since the start of the consumer slowdown, said comparable sales in the US grew by 1.7 per cent in December, lower than Wall Street had forecast. Sales at its discount stores and Supercenters rose 1.9 per cent, while its Sam’s Club discount clubs saw an increase of just 0.1 per cent.