Despite the fact that Wal-Mart Stores Inc. reported a higher quarterly profit on Thursday, sales at its existing U. S. namesake stores fell by 1.6%.

A year earlier, profit rose to $4.63 billion, or $1.21 per share, from $3.79 billion, or 96 cents per share, for the fourth quarter. Exclusive of a charge of 4 cents per share for restructuring and a tax benefit of 10 cents per share, earnings were $1.17, the company mentioned. Forecasters were expecting $1.12 per share earnings.

"U. S. sales will be more challenging in the first quarter. We remain focused on growing top-line sales and expect improvement in the United States as the year progresses", said Chief Executive Officer Mike Duke.

Before U. S. markets opened, Wal-Mart went down to $53.10 at 7:24 a. m., from a close of $54.06 in New York Stock Exchange composite trading yesterday. It has expectations from continuing operations to range from 81 cents to
85 cents per share for the first quarter.