Mexican retail giant Wal-Mart de Mexico (Walmex) has announced that same-store sales increased by 1.2% in September.
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Walmex, which is majority owned by US retail giant Wal-Mart, reported that the same-store sales increase for September was the lowest this year, except for a one-off drop in April.
Total sales in September were around 8bn pesos (US$782.8m), an increase of 11% from last year’s September sales figures.
The weak state of the Mexican peso is thought to be partly responsible for the low sales increase, as consumers were less willing to part with their money. Since the end of March, the peso has lost 12% of its value.
Analysts also consider the high rainfall levels during September to have had a negative impact on sales.
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By GlobalDataIn September Walmex opened six new stores and restaurants, reported Reuters News.
