Mexican retailer Wal-Mart de Mexico (Walmex) has said its same-store sales edged up 0.3% in September as poor weather conditions affected stocks.
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Walmex, which is majority owned by US retail giant Wal-Mart, reported total September sales of 8.79bn pesos (US$783m), a rise of 5.5% compared to the year-ago period, reported Dow Jones International News.
“Hurricane-related storm activity appears to be resulting in crop damage, logistical difficulties and high out of stocks in produce for retailers throughout Mexico,” analyst Merrill Lynch was quoted by Dow Jones as saying.
Walmex, which operates more than 600 retail outlets and restaurants in Mexico, said it opened two new supermarkets in September.
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