Mexico's Walmex third-quarter profit driven by solid sales [Reuters]
Walmart Inc. (WMT)
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Source: Reuters
Mexico's Walmex third-quarter profit driven by solid sales | Reuters 3 Min Read MEXICO CITY (Reuters) - Mexico’s biggest retailer, Wal-Mart de Mexico ( WALMEX.MX ), reported on Thursday a 7.9 percent rise in third-quarter revenue, capitalizing on sales traffic in Mexico that compensated for slow growth in Central America and a tough comparison base. The company, known as Walmex, said its net profit of 8.7 billion pesos ($464 million) posted little growth compared with the year-earlier period, when Walmex still registered profits from its sale of clothing chain Suburbia. Its net profit was a bit higher than in the July-September period last year, while revenue climbed to 147.8 billion pesos, both tracking analyst estimates. Walmex Chief Executive Guilherme Loureiro said in a conference call that same-store sales remained the company’s “main growth driver,” especially in Mexico. He said the company expected weaker results in Central America. Political turmoil in Nicaragua has been a p
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