Wal-Mart profit up despite sales weakness in the United States

Reuters

Wal-Mart Stores Inc posted a higher quarterly profit on Thursday even as sales fell 1.4 percent at its Walmart U.S. stores open at least a year because of a delay in income tax refund checks, cool weather, less grocery inflation than expected, and the payroll tax increase.

The world's largest retailer earned $1.14 per share in the fiscal first quarter, up from $1.09 a year earlier. In February, Wal-Mart had forecast a profit of $1.11 to $1.16 per share.

Continue Reading Below

(Reporting by Jessica Wohl in Chicago; Editing by Lisa Von Ahn)