Wal-Mart profit falls 5 per cent as severe winter deters shoppers

Wal-Mart Stores Inc reported a 5 per cent fall in quarterly profit as severe winter weather hurt comparable sales in the United States.

Wal-Mart said comparable sales at its US stores, its biggest unit, were relatively flat. Weather adversely impacted same-store sales by about 20 basis points, the company said.

Overall revenue rose marginally to $114.96 billion.

Net income attributable to Wal-Mart fell to $3.59 billion, or $1.11 per share, in the first quarter ended April 30, from $3.78 billion, or $1.14 per share, a year earlier.