Wal-Mart, the world’s largest retailer, said its February sales beat its own forecast, in a sign that US shoppers are “trading down” in the face of economic pressures.

Wal-Mart said sales at its US stores and Sam’s Club discount warehouses open at least a year rose 2.6 per cent during the month. Wall Street analysts had on average been predicting a 1.1 per cent increase.