Walmart Sales Hurt by Nationwide Food Stamp Cuts; Retailer Says It Was Directly Hit by Expiration of Government Program

Nationwide food stamp cuts will hurt Walmart stores' bottom line, according to officials from the retail giant.

Since the federal government's program-wide cuts took hold on Nov. 1, Walmart's sales have reportedly been hit, and officials are predicting further slumps for the coming year.

According to USA Today, Walmart estimated its fourth quarter and full-year adjusted earnings would be lower than first anticipated, with deep lows that the Arkansas-based company didn't think would come. The corporation made a direct link between the food stamp cuts and its dip in sales.

Walmart also chalked the rough numbers up to bad weather, along with being forced to cut 2,300 jobs. According to CNN Money, some of the company's Sam's Club stores will also be shutting their doors, due to the low sales.

More food stamp cuts are slated to take hold soon - a bipartisan agreement on a farm bill that legislators started working on last week could shave off about $90 in benefits each month for an estimated 850,000 United States citizens who are currently on the government assistance program.

The largest retail store in the world's sales fell in the first quarter of 2013, after the company was slammed by a series of interim payroll tax cuts that ran out.

Cuts to the food stamp program occurred when a recession-era bill that increased government aid expired.

The United States government saved about $5 billion when the program ran out, CNN Money reported.