Profit growth for Wal-Mart

For the second quarter Wal-Mart, the world’s biggest retail group, reports a 26 per cent increase in net profit to US $ 2.04 bn over the same period last year. The high profit growth is partly attributable to a new valuation of goodwill. The increase amounts to 19 per cent if this is left out. Turnover rose over the same period by 13 per cent to US $ 59.7 bn. The Wal-Mart stores in the USA achieved growth of 14 per cent to US $ 38.6 bn. Sales generated outside the USA rose by almost 16 per cent to US $ 9.7 bn. Business in Mexico and Canada showed particularly strong development. Losses are still being recorded in Germany.