Wal-Mart having trouble with gift cards

updated 9:17 p.m. ET Dec. 26, 2007

NEW YORK - Wal-Mart Stores Inc., the world's biggest retailer, said Wednesday it is having problems processing gift cards.

In a statement, Wal-Mart said once it discovered the problem, it investigated and found that a "third-party verifier's systems had an inadvertent processing error." The retailer said the error caused delays in gift card verifications.

"We are working with the supplier to resolve the issue as quickly as possible and we apologize for the inconvenience to our customers," the store said in the statement.

When reached for comment, Wal-Mart said it could not provide any additional details on the matter.

Wal-Mart shares fell 36 cents to close earlier at $48.38.

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