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. Last Updated: 07/27/2016

Wal-Mart Gains




LITTLE ROCK, Arkansas -- Wal-Mart Stores Inc.'s first-quarter earnings rose sharply from a year ago, and the world's biggest retailer said it expects to maintain healthy sales and profit growth for the remainder of the year.


The chain reported Tuesday that it earned $1.326 billion, or 30 cents a share, for the quarter ended April 30, compared with $916 million, or 20 cents a share, a year ago.


Food sales were particular strong at its supercenters, increasing 36 percent in the first quarter. Its international division saw a 118 percent growth in sales and profits more than doubled. The gains were largely attributed to its acquisition last year of ASDA Group, the third-largest grocery chain in Britain.