Agence France-PresseMay 16, 2013 16:30
US retail giant Walmart reported Thursday that its first quarter earnings edged higher to $3.8 billion but said comparable sales at its US stores declined.
Wal-Mart Stores Inc. said its net income was up 1.1 percent from the previous year's $3.7 billion. Net income per share came in at $1.14, compared with analyst expectations of $1.15.
Walmart said its US comparable store sales declined 1.4 percent due to a delay in income tax refund checks, "challenging" weather, lower-than-expected grocery inflation and payroll tax increases.