Jay Fitzsimmons, Wal-Mart senior vice-president for finance, cited Asda as having received The Grocer 33 award for the lowest priced basket for the fifth year running as proof.
Wal-Mart said Asda's sales and operating profit had been outstanding for the first half of the year, with food sales showing high single-digit growth, twice that of the market.
Asda has added 2,000 globally sourced Wal-Mart general merchandise lines on top of the 5,000 introduced late last year.
Asda overall saw low double-digit sales and profit growth. Profits were generated by implementing Wal-Mart systems, a 35% cut in out of stocks, lower markdowns and turning holding space into sales space.
Asda saw 10% more customers in stores and sales of the George range were up nearly 30%, making up 8% of overall growth.
Asda is to open its eighth Wal-Mart supercentre, its first in Scotland, in Livingston this week.