MEXICO: Walmex posts sharp rise in Q2 net profit
Mexican retailer Wal-Mart De Mexico (Walmex) has posted a 49% rise in second-quarter net profit, helped by higher sales and cost cuts.
Walmex, which is majority owned by US retail titan Wal-Mart, posted net profit of 1.46bn pesos (US$127.1m), beating analysts' average forecast of 1.33bn pesos, reported Reuters.
Revenues rose 10% to 31.69bn pesos for the quarter, while same-store sales for June rose 6.5%.
Last week, Mexico's competition regulator approved a purchasing alliance between three Mexican retailers aimed at cutting costs to better compete with Walmex.
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....
- Does Kraft Heinz want to swallow Unilever whole?
- Focus: Nestle CEO plan to balance sales, earnings
- Will Kellogg's DSD exit help it grow in US snacks?
- Comment: Meal kits in US - don't believe the hype
- Is Mondelez's margin target hurting sales?
- Nestle plans restructuring as 2016 profit misses
- Kraft Heinz pursuing Unilever in takeover move
- Kraft Heinz returns to organic growth, ups margins
- Danone eyes efficiency, agility with new structure
- General Mills issues profit warning