Wal-Mart Stores Inc. (NYSE: WMT) reported second quarter 2015 results before markets opened Thursday morning. The retailing giant posted diluted earnings per share (EPS) of $1.21 on total revenues of $120.13 billion, which includes membership fees in Sam’s Club. In the same period a year ago, Walmart reported EPS of $1.24 on revenues of $116.94 billion. Second-quarter results compare to the Thomson Reuters consensus estimates for EPS of $1.21 and $119 billion in revenue.

U.S. second-quarter same-store sales, both including and excluding fuel sales, were flat at the company’s supercenter and discount stores. Same-store sales in the company’s Sam’s Club stores were flat excluding fuel and up 0.5% including fuel sales. Same-store sales at Neighborhood Market stores rose approximately 5.6% in the quarter, and total U.S. net sales rose 2.7%. For the current quarter, Walmart expects same-store sales to be “relatively” flat.

For the third quarter of its 2015 fiscal year, Walmart forecast EPS in a range of $1.10 to $1.20 compared with actual EPS of $1.14 in the third quarter last year. The company cut its full-year EPS guidance from a prior range of $5.10 to $5.45 to a new range of $4.90 to $5.15. The consensus estimate full-year EPS is currently $5.15.

Walmart’s CEO said:

As it relates to the positives from the quarter, I’m encouraged by the performance of our International business, our Neighborhood Market sales in the U.S. and by our e-commerce growth. As it relates to our challenges in the quarter, we wanted to see stronger comps in Walmart U.S. and Sam’s Club, but both reported flat comp sales. Stronger sales in the U.S. businesses would’ve also helped our profit performance.

If wishes were horses, beggars would ride, as the old saying goes. It’s up to Walmart’s well-paid management team to drive stronger comparable store sales, not merely to wish for them. And to say stronger sales would have helped boost profit is almost a tautology. Walmart shareholders pay these guys for this nonsense?

Shares will probably drop a little today, but they won’t get the pounding they deserve. Analysts were not expecting full-year EPS to be anywhere near the top of the prior range, and quarterly results were inline with estimates. Management may not be able to make the company better, but at least they aren’t making it worse.

Walmart’s shares were down about 0.1% in pre-market trading, at $73.93 in a 52-week range of $71.51 to $81.37. Thomson Reuters had a consensus analyst price target of around $80.50 before results were announced Thursday.

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