Financial Times FT.com

Wal-Mart defies global gloom

By Jonathan Birchall in New York

Published: May 14 2009 13:15 | Last updated: May 14 2009 18:59

Wal-Mart on Thursday underlined its ability to emerge even stronger from the recession as the world’s largest retailer reported further market-share gains, while continuing to invest in technology and improved store logistics.

The retailer’s first-quarter profits were unchanged from a year ago, in part owing to the $4.8bn impact of the stronger dollar on the value of total overseas sales.

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