MEXICO/USA: Wal-Mart reports record sales and profits in Mexico
Walmex (Wal-Mart de Mexico) has reported record sales and profits, bucking a market struggling with a slowdown in growth and a weak economy.
Walmex enjoys a 40% retail market share and is Mexico’s largest employer, reported the Financial Times. The company reported net profits up 13.5% in the fourth quarter, while sales rose 9%.
Walmex, which is controlled by its American parent, posted a quarterly net profit of 2.11bn pesos (US$191.7m) on sales of 32.25bn pesos, up from earnings of 1.86bn pesos on sales of 29.5bn pesos one year ago.
Walmex is growing its own store portfolio and also seeking further penetration by selling through corner shops from which many low-income consumers buy most of their food. It currently operates 597 outlets including Wal-Mart, Sam’s Club and Bodega Aurrera hypermarkets, Superama supermarkets, Suburbia clothing stores and 260 of the diner-style restaurant Vips.
Companies: Wal-Mart Stores
It's easier talking to your customers if you speak their language. With millions of speakers of minority languages around the world, food processors and retailers need to be able to communicate with t...
US retailer Wal-Mart Stores Inc. plans to open 12 to 15 new stores in China this year according to the president of its international business, reports the Xinhua news agency....
Wal-Mart International chief John Menzer has met Indian prime minister Manmohan Singh and commerce minister Kamal Nath to lobby for permission to enter India's tightly-controlled retailing sector, the...
US retail titan Wal-Mart has reported record sales and earnings for the first quarter but said its results were lower than expected due to higher petrol prices and bad weather....
Wal-Mart Germany has cut prices of more than a thousand articles in its stores, some of them by over 20%....
Not content with pocketing one in every three pounds spent on groceries in the UK, the supermarket giant Tesco has now become the first British retailer to smash the £2 bn ($3.78bn) profit barrier. Ho...
US retail giant Wal-Mart Stores Inc, says it will open two outlets in Beijing this year, and at least one more store next year, according to an Asia Pulse report....
Overall US produce sales are soaring, but supermarkets are still losing market share to Wal-Mart, according to government figures....
- Comment: Premier has more to ponder than Brexit
- 2017: three major drivers of M&A strategy
- The food market in 2017 - consumer trends and M&A
- Trump seen as negative for global food trade
- Analysis: B&G Foods balancing growth and decline
- Nestle mum on Mead Johnson takeover talk
- Premier Foods issues profit warning
- Unilever rebrands I Can't Believe It's Not Butter
- Mondelez sells Vegemite to Bega
- Kellogg to slash 250 jobs