The latest financial data revealed by Wal-Mart has stated sales are rising at Asda.
A statement released by the supermarket chain announced lower prices have helped sales and profits at subsidiary Asda to increase by 1.3 per cent.
Asda – which is the UK's second largest supermarket behind Tesco – saw its market share remain at 17.9 per cent.
But it was revealed in the data from Wal-Mart that Asda's online sales continued to improve and they were up by 16 per cent in the quarter.
Asda chief executive Andy Clarke described the performance as strong in challenging conditions caused by the slow economic recovery in the UK.
"Despite a difficult environment for our customers, we have continued to achieve growth on growth by lowering the prices of essentials and investing in technology to make shopping more convenient," he said.
Following the release of today's (May 16th) results, stocks in Wal-Mart were down by more than two per cent on the Nasdaq.
They were selling at 78.17 at 15:38 BST, down 1.7 points on the start of the day's trading.
Find up to date information on the FTSE 100 and spread betting strategies at City Index
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.