WRAPUP 3-Wal-Mart, other U.S. retailers warn after weak Dec
* Wal-Mart Dec same-store sales disappoint; forecast cut
* Limited, J Crew, Macy's, Gap warn on Q4 profits
* Wal-Mart shares down 7.6 percent
* Standard & Poor's retail index down 0.3 pct (Adds share activity)
By Brad Dorfman
CHICAGO, Jan 8 (Reuters) - Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research) led U.S. retailers in disappointing December same-store sales and profit warnings on Thursday, sparking fresh recession concerns that hit stock and currency markets.
Nearly a dozen retailers, including Macy's (M.N: Quote, Profile, Research) and Target Corp (TGT.N: Quote, Profile, Research), told investors that profits would take a further hit in the fourth quarter, which includes key holiday sales.
The U.S. recession, job losses and winter storms right before Christmas contributed to the worst holiday shopping season in up to four decades.
Wal-Mart, the world's largest retailer, said sales at U.S. stores open at least a year rose 1.7 percent, excluding gasoline, worse than Wall Street's expectation of a 2.8 percent increase. It also cut its profit forecast for its fourth quarter, which began on Nov. 1. [ID:nN08350904] Continued...
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