Asda sales “strong” in January, says Wal-Mart

In the USA, sales were up by 3.5% to $16.9bn during the four weeks to 1 February 2008. Internationally, they rose by 21% to $7.2bn.

Like-for-like sales in the USA rose by just 0.2%.

The company said: “Unfavourable weather negatively affected overall general merchandise sales, especially in the Midwest.

“Gift card redemptions were below expectations, and customers appear to be holding gift cards longer and using them more often for food and consumables rather than discretionary purchases.”