Retail chain giant Wal-Mart Stores reported a 22 per cent increase in net profit at $4.63 billion for the fourth quarter, despite the decline in the US sales but it is supported by strong growth in its international sales and cost cutting measures taken during the quarter.

Company reported net earnings rise to $4.63billion against the $3.8 million for the same period of previous financial year and sales of the company recorded an increase of 4.6 percent over the year.

Wal-Mart posted far better than most non discount retailers with the help of its low prices appeal to recession-weary consumers.

With the increasing signs of stabilization, buyers are boosting their spending and the retailers are steering them to more fuller-priced items. The company is feeling the pinch with decline in the sales. It recorded a decline in the sale of Home goods along with health and wellness items expect grocery and pharmaceuticals.

According to Wal-Mart President and Chief Executive Officer Mike Duke, "These results reflect the ongoing underlying strength of our business and our strategies to improve shareholder value through our priorities - delivering growth, leveraging expenses and improving returns."