MEXICO: Chedraui FY sales boosted by store openings
Mexican retailer Chedraui booked an increase in sales and earnings during 2013, boosted by store openings and lower financing costs.
The company said group sales rose 3.7% in the 12-month period, helped by the opening of 13 stores in the year. Sales totalled MXN66.3bn (US$4.99bn) during 2013, the group revealed.
At the end of the year, Chedraui operated 211 Mexican stores and 45 outlets in the US. Mexican same-store sales rose 0.5% while the US like-for-like sales gained 2.5%.
Full-year net income rose 10.5% to MXN1.7bn, boosted by an 18.9% jump in fourth-quarter income when the company felt the benefit of lower financing costs.
Click here for the full announcement from Chedraui.
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