US retail giant Wal-Mart's first-quarter net profit to April 30 rose 6.3% to $2.6bn on net sales up 12.3% to $79.6bn.

Like-for-like sales at its US stores increased 3.8%, while sales in its international division increased 22.9%.

Lee Scott, president and chief executive officer of Wal-Mart, said: “We are very pleased with our start to this fiscal year. The success of this quarter was the result of our focus on three goals: driving sales, reducing costs and improving inventory management.”