Wal-Mart de Mexico Sales Growth Slows in June
05 Julio 2016 - 6:24PM
Noticias Dow Jones
By Anthony Harrup
MEXICO CITY -- Mexico's largest retailer, Wal-Mart de Mexico
SAB, registered a fourth consecutive quarter of double-digit sales
growth in the second quarter despite a slight slowdown in June.
Walmex, as the unit of Arkansas-based Wal-Mart Stores Inc. is
known, said Tuesday that total sales in Mexico and Central America
rose 11% in June to 41.24 billion Mexican pesos ($2.1 billion).
That brought sales for the April-June period to 126.6 billion
pesos, 11% more than in the second quarter of 2015.
Same-store sales, which count only stores that have been open
for at least one year, grew 6.8% in June in Mexico, a slowdown from
the previous two months, and 4.3% in Central America. The company
has 2,362 stores in Mexico and 709 in Central America
Mexican retail chains continue to see robust sales despite
recent signs of a slowdown in overall household spending in
Mexico.
The National Statistics Institute reported earlier Tuesday that
growth in household consumption of goods and services slowed to
3.1% in April, compared with the year before and was down sharply
from March.
Other macroeconomic readings, such as above-inflation wage
increases, greater remittances from Mexicans living abroad and
expanding consumer credit continue to support retail sales,
tempered by lagging consumer confidence and a slowdown in job
creation, Credit Suisse said in a report.
Walmex plans to report its second-quarter earnings on July 26.
Its shares fell 2.6% on the Mexican stock exchange Tuesday ahead of
the sales report.
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
July 05, 2016 19:09 ET (23:09 GMT)
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