MEXICO: Walmex sales jump in Q3
Latin America’s largest retailer, Wal-Mart de Mexico SA, has announced a 34% rise in third quarter profit, helped by sales at stores the company opened this year in lower-cost rural areas, according to the Bloomberg news agency.
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Mexico Walmex same-store sales up 4.6 pct in Aug
Leading Mexican retailer Wal-Mart de Mexico, or Walmex, said on Thursday its same-store sales rose 4.6 percent in August, compared with the same month last year.
Walmex (WALMEXV.MX: Quote, Profile, Research) said total sales in August were 13.046 billion pesos ($1.2 billion), up 12.8 percent.
Same-store sales measure revenues only at stores open at least a year and are seen as a better indication of sales performance than overall sales.
Source: today.reuters.com
Mexicos Walmex April same-store sales up 9.9 pct
Leading Mexican retailer Wal-Mart de Mexico, or Walmex, said on Tuesday its same-store sales rose 9.9 percent in April, compared with a year earlier.
Walmex (WALMEXV.MX: Quote, Profile, Research), controlled by U.S. retail giant Wal-Mart Stores Inc. (WMT.N: Quote, Profile, Research), said total sales for the month were 14.966 billion pesos ($1.37 billion), up nearly 21 percent from the same month last year.
Same-store sales measure revenues only at stores open at least a year and are seen as the best performance indicator.
Analysts in a Reuters poll had forecast a 9 percent increase as sales
UPDATE 1-Mexico July same-store sales rose 3.1 pct - group
Mexico's top retailers' group ANTAD said on Monday its members' same-store sales rose 3.1 percent in July year-on-year, falling further behind powerhouse Wal-Mart's Mexico unit.
Wal-Mart de Mexico (Walmex) (WALMEXV.MX: Quote, Profile, Research), which is not in the association, said last week its same-store sales in July were up 7.5 percent.
The National Association of Supermarkets and Department Stores, or ANTAD, which includes about 100 of the country's main retailers, said members' total sales for July rose 10.8 percent from July 2004.
Same-store sales at outlets open 12 months or longer are considered
Mexican retail powerhouse Wal-Mart de Mexico, or Walmex, posted 34 percent growth in net profit for the third quarter on Friday as aggressive expansion and cost savings fueled growth.
Walmex (WALMEXV.MX: Quote, Profile, Research), a unit of No. 1 global retailer Wal-Mart Stores Inc. (WMT.N: Quote, Profile, Research), reported a net profit of 2.001 billion pesos ($186 million) for the quarter.
Walmex has used aggressive expansion and low prices to become the dominant retailer in Mexico's fragmented market with more than 700 stores and restaurants.
It said quarterly sales rose 14.7 percent to 38.658 billion pesos year on year. Same-stores sales, which
Mexico Sept same-store sales rose 1.3 pct - group
Mexico's top retailers' group ANTAD said on Thursday its members' same-store sales rose 1.3 percent in September, as they struggle to keep up with Wal-Mart's Mexico unit.
The National Association of Supermarkets and Department Stores, ANTAD, which includes about 100 of the country's main retailers, said members' total sales for September rose 9.5 percent from September 2004.
Most of that increase came from greater floor space.
Wal-Mart de Mexico (Walmex) (WALMEXV.MX: Quote, Profile, Research), which is not in the group, is eating up market share and said last week its same-store sales were up
Mexico retailers seek antitrust law to slow Walmex
Mexico's long-established retailers want the Congress to strengthen antitrust laws to stop Wal-Mart's expansion juggernaut from devouring smaller businesses, a sector leader said on Thursday.
Vicente Yanez, head of the retail association ANTAD that includes about 100 top retailers other than Wal-Mart Mexico, said fierce competition from the global powerhouse is one factor squeezing sales for other retailers, along with a thriving informal economy and tepid economic growth in Mexico.
Yanez urged lawmakers to pass proposals to bring anti-monopoly laws to international standards and provide for more "equilibrium" in the market.
"In Mexico we're used to
Mexican retail powerhouse Wal-Mart de Mexico, or Walmex, posted 28 percent growth in net profit for the second quarter on Thursday as expansion and cost savings fueled growth.
Walmex (WALMEXV.MX: Quote, Profile, Research), a unit of No. 1 global retailer Wal-Mart Stores Inc. (WMT.N: Quote, Profile, Research), reported a net profit of 1.95 billion pesos ($181 million) for the period, compared with 1.52 billion pesos a year earlier.
Net profit for the first half of the year reached 3.801 billion pesos. Walmex has used aggressive expansion and low prices to become the dominant retailer in Mexico's fragmented market.
More: today.reuters.com
Mexico top retailers say Nov. same-store sales fell
Mexico's top retailers' group ANTAD said on Thursday its members' same-store sales fell 0.4 percent in November, as market leader Wal-Mart de Mexico again rolled over its rivals.
The National Association of Supermarkets and Department Stores, ANTAD, which includes about 100 of the country's main retailers, said members' total sales for November rose 8.3 percent from November 2004.
That increase was due largely to an increase in sales floor space of 11.8 percent among members. Same store sales, which measure performance only a stores open at least a year, are seen as the best
Wal-Mart heads off rivals in small town Mexico]
Wal-Mart is stepping up its expansion strategy in Mexico to focus on smaller towns in a move that could help it gobble up more of the fragmented retail market, despite new offensives by competitors.
This week the huge retailer, known as Walmex (WALMEXV.MX: Quote, Profile, Research) in Mexico, said it boosted its expansion program to open 90 new stores this year, 20 more than first planned, an increase of 14 percent in sales floor space, much of it outside major cities.
The additional 20 stores were already included in the company's 2005 capital expenditures program
Mexico global bonds jump on exchange warrant plan
Prices on longer-maturity Mexican global dollar bonds soared on Thursday as the government announced it was offering warrants allowing holders to exchange them for domestic peso-denominated paper.
"Mexico has just announced an offering of three series of warrants that would allow their holders to exchange a specified face amount of external bonds for an amount fixed in U.S. dollars of a peso-denominated Bono on the expiration date," Barclays Capital said in a research note.
"It's going ahead today," a spokeswoman at Mexico's finance ministry said when asked if the warrants would be offered on Thursday
