Walmart expects net sales to rise 3.75 per cent to 4.75 per cent this year. Photo by THE CANADIAN PRESS/Christopher Katsarov

Walmart Inc. shares fell after profit missed expectations for the first time in three years, overshadowing higher sales.

Adjusted earnings per share came in at 68 cents U.S. for the second quarter, six cents lower than what Wall Street expected. The world’s largest retailer cited a rise in insurance claims, legal charges and restructuring costs as factors weighing down its profit.

Walmart shares fell 2.3 per cent at 7:36 a.m in early trading in New York. Through Wednesday’s close, the stock had gained nearly 14 per cent this year, outpacing the 8.7 per cent advance of the S&P 500 Index.

Claims, which include general liability and workers compensation expens

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