Tue May 18 10:02:00 -0400 2010

Bloomberg.com (New York)

- Wal-Mart Stores Inc., the world’s largest retailer, said first-quarter profit increased 10 percent as growth in Mexico, Canada and China helped make up for sales declines at U.S. stores.

“They’re mainly focused in the U.K. and parts of Asia and South America where they still are catering to that lower-income customer, and there’s a great value that they are offering,” Joe Feldman, an analyst at Telsey Advisory Group in New York, said in a Bloomberg Television interview. In the U.S., he said, “they are seeing lighter traffic in the stores.”

To view the full article, download the PDF here: Bloomberg, May 18, 2010