BENTONVILLE, AR - Walmart reported earlier this week that comparable sales at its U.S. stores declined for the seventh consecutive quarter, despite earlier predictions that sales would rebound, the Financial Times reports.

Comparable sales at stores open at least a year dropped 1.8 percent against the same period last year, with net sales in the U.S. off 0.5 percent in the three months to the end of January, to finish at $71.1 billion.

Walmart??s overall financial health was boosted by strong growth in its international business, where revenues increased 2.5 percent to $115.6 billion.

Walmart??s total net sales for its full fiscal year were $419 billion.

Walmart blamed its U.S. sales drop on lower demand from low-income shoppers and to a reduction in the variety of brands and inventory that its stores carry. It had predicted that a renewed focus on "every day low prices" rather than promotional pricing would restore sales growth during the quarter. Failing to reach that goal, CEO Mike Duke expressed disappointment.

"Some of the pricing and merchandising issues in Walmart ran deeper than we initially expected and they require a response that will take time to see results," he said.

Duke said he expected continued strong growth in international business, which "continues to be [the company??s] growth engine."