17 Aug 2012

Walmart result up

8:54 am on 17 August 2012

Wal Mart has reported a rise in quarterly profits of 6% and is forecasting a full year profit upgrade.

The world's biggest retailer made $US3.8 billion in the three months ending June, compared with $US3 6 billion in the same period last year.

Despite tough conditions in its home market, US revenues rose 4%.

UBS retail analyst Robert Carroll says Wal Mart is achieving growth by returning to the basics by providing value for money.