Wal-Mart, the world's largest retailer, has reported quarterly profits up 3.6%, although sales in its home US market fell for the fifth quarter in a row. Wal-Mart's profits rose to $3.6bn (£2.3bn) helped by cost-cutting and growth in international markets. But Wal-Mart sounded a note of caution, saying the slow economic recovery would "continue to affect" customers. Meanwhile, UK supermarket chain Asda, which is owned by Wal-Mart, saw like-for-like quarterly sales drop 0.4%. It is the second quarter in a row that Asda, which is the UK's second biggest supermarket group, has seen its sales drop. It saw its first sales fall for four years, of 0.3%, in the first quarter of 2010. Wal-Mart International president and chief executive Doug McMillon warned UK trading conditions were likely to remain tough.The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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