Belfast Telegraph

Wal-Mart profits increase by 5.7%

Asda owner Wal-Mart Stores said its second-quarter profit rose 5.7%, fuelled by strong international sales and cost-cutting. But the world's largest retailer still was not able to reverse a two-year US sales slump.

The retailer said it had earned $3.8bn (£2.3bn), or $1.09 per share, in the three months ended July 31.