Wal-Mart, the world's largest retailer, sold almost USD250bn worth of goods last year, an increase 12pc from 2001. Full year sales rose to USD244.5bn, the company said today, while net profit surged 21pc to USD8.04bn. Wal-Mart, which specialises in mass merchandising and discounting, also said net profit in the fourth quarter rose 15pc to USD2.53bn on sales of USD71bn, up 10pc. Net income per share rose to 57c from 49c, edging past the 56c that had been expected. International sales surged 13pc in the quarter, helped by strong results in the UK, where the company owns supermarket chain Asda.
But sales at stores open at least a year - a key indicator known as like-for-like sales - increased by just 2.7pc in the last three months, less than half the rate recorded a year earlier, as consumers reined in spending amid slower economic growth and mounting layoffs. Shares in Wal-Mart closed at USD49.15 in New York last Friday, down 2.6pc in the year to date, which compares to a 5.5pc decline on the Dow Jones industrial average over the same period//www.fxcentre.com