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Wal-Mart profit falls 5 percent as severe winter deters shoppers

[May 15, 2014]  (Reuters) —Wal-Mart Stores Inc reported a 5 percent fall in quarterly profit as severe winter weather hurt comparable sales in the United States.

Wal-Mart said comparable sales at its U.S. stores, its biggest unit, were relatively flat. Weather adversely impacted same-store sales by about 20 basis points, the company said.

Overall revenue rose marginally to $114.96 billion.

Net income attributable to Wal-Mart fell to $3.59 billion, or $1.11 per share, in the first quarter ended April 30, from $3.78 billion, or $1.14 per share, a year earlier.

(Reporting by Siddharth Cavale in Bangalore; Editing by Saumyadeb Chakrabarty)

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