Wal-Mart Mexico y Centroamerica saw net income rise by 18% during the first quarter of the year due to higher sales.

The Wal-Mart Stores subsidiary said on Friday (15 April) that its net income reached MXN$4.6bn on the back of an 18% rise in sales to MXN$85.48bn.

Commenting on the results, Walmex executive president and CEO Scot Rank said: "I am pleased to comment that we began the year with a first quarter in line with our expectations regarding sales and investment. In Mexico we opened 38 units, thus growing our sales floor by 79,000 square metres, which is 121% more than the footage that we added during the same period last year."