Wal-Mart reports 11% rise in earnings

United States retailing giant Wal-Mart has reported an 11% rise in Q4 earnings.

Clothing sales helped drive the figures as Christmas gift vouchers and the cold weather sent shoppers flocking to the stores for warm clothes.

For the quarter to January 31, income rose to $2.7bn (€2.12bn), compared to $2.5bn (€1.96bn), a year earlier.

The figures were in line with analysts' expectations.

In January, Wal-Mart warned that its fourth-quarter profits would be affected by a tax law change in Germany, which shaved $150m (€118m) off its profits.

For the full-year to January 31, net income climbed 14% to $9.05bn (€7.12bn) compared with $7.96bn (€6.26bn) last time.

President and chief executive Lee Scott said :"I am pleased to report that, with the help of our associates, we had a successful end to a year that was difficult in many ways."