Wal-Mart said today its quarterly profits rose 19.7 per cent as consumers shopped the discount chain for low-priced food and other items in the slow US economy.
Net income in the fiscal first quarter, ended April 30th, at the world's largest retailer rose to $1.65 billion from $1.38 billion a year earlier.
On May 9th, Wal-Mart said its sales in the quarter rose 14.4 per cent from a year earlier, to $54.96 billion. Sales at stores open at least a year rose 8.1 per cent.