Wal-Mart de Mexico, the US retailer’s arm in Central America, has booked an increase in first-half sales and earnings.
The company said EBITDA in the first six months of the year rose to MXN18.6bn (US$1.46bn), up 5% year-on-year. Improved operating profit was driven by higher sales and operational improvements, the group sale.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Sales were up 3.5% to MXN200.5bn, the group revealed in a regulatory filing.
Speaking during a conference call following the results release, CFO Rafael Matute said the “top priority” for the business remains driving top-line growth. However in a “soft sales environment” in Mexico the retailer “reinforced” its “commitment to productivity and cost control”.
Net income rose 4.9% to MXN10.1bn, the group added.
Click here to view the Walmex announcement.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
