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
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
Mexicos Soriana quarterly net profit ticks up
Soriana, one of Mexicos top retailers, posted a 4 percent rise in net profit for the first quarter on Tuesday, below analysts estimates, with moderate growth in sales and operating results.
Soriana (SORIANAB.MX: Quote, Profile, Research) said net profit reached 548 million pesos ($50 million), compared with 525 million pesos in the same quarter of 2005. Analysts polled by Reuters Estimates had forecast a 14 percent rise to 597 million pesos.
Soriana, which operates 202 stores mainly in northern Mexico, said its quarterly sales rose 11 percent year on year to 12.395 billion pesos. Operating profit,
Mexico's Bolsa Rises to Record, Led by Walmex: Latin Stocks
Mexico's Bolsa stock index rose above 18,000 for the first time, led by Wal-Mart de Mexico SA, Latin America's largest retailer, on expectations that the central bank will continue cutting interest rates early next year.
The index rose to a record for a third day, gaining 209.82, or 1.2 percent, to 18,029.50 at 3:12 p.m. New York time. The Bolsa has surged 4.8 percent since Dec. 8, the day before Mexico's central bank cut its benchmark lending rate more than expected to 8.25 percent. The cut followed a government report that
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
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 Comerci net seen up on strong operations
Comercial Mexicana, one of the countrys largest retailers, will likely report a 35 percent rise in net profit for the second quarter thanks to a rise in sales and operational improvements.
Known by investors as Comerci (COMERCIUBC.MX: Quote, Profile, Research) (MCM.N: Quote, Profile, Research), the company should report a net quarterly profit of 302 million pesos ($27 million), according to the average estimate of five analysts consulted by Reuters.
Comerci, which is expected to report better results from its updated distribution operations and better negotiations with suppliers, is scheduled to report its quarterly results on
Mexico's Bolsa Rises to Record, Led by Walmex: Latin Stocks
Mexico's benchmark stock index rose to a record for a third day, led by retailer Wal-Mart de Mexico SA, on expectations that oil revenue will sustain growth in Latin America's biggest economy.
The Mexican Bolsa rose 120.64, or 0.8 percent, to 15,151.26 at 12:40 New York time. Wal-Mart de Mexico, Latin America's biggest retailer, rose for a fifth day in six as Chief Executive Eduardo Solorzano elaborated on the company's expansion plans in a speech to investors in New York.
The Bolsa is gaining because of global demand for the
Mexico 1-month T-bill yield rises to 7.02 pct
The yield on Mexicos benchmark 28-day Cetes, or T-bills, edged up 1 basis point to 7.02 percent on Tuesday amid expectations of rising U.S. interest rates.
Longer-term Cetes yields ticked up from last week at a central bank auction, along with rates on Mexicos 3-year and 7-year peso from when they were last auctioned on May 16.
The yield on the three-month bill rose to 7.36 percent from 7.28 percent last week, while the yield on the six-month yield rose to 7.63 percent from 7.50 percent.
The 3-year peso bond rose to a yield of 8.50
UPDATE 1-Mexico's Telmex quarterly net profit leaps
Leading Mexican telephone company Telmex said its second-quarter net profit jumped 42 percent, boosted by new businesses in Brazil and Chile.
Telmex (TMX.N: Quote, Profile, Research)(TELMEXL.MX: Quote, Profile, Research), owned by Mexican entrepreneur Carlos Slim, said on Tuesday that it had a April-June net profit of 6.530 billion pesos ($606 million).
The bottom line was sharply higher than market expectations. A Reuters survey forecast Telmex would report a net profit of 5.900 billion pesos.
Telmex included in its results its recently acquired Brazilian long-distance operator Embratel (EBTP4.SA: Quote, Profile, Research) and Chilean company Chilesat (TLX.SN: Quote, Profile,
Mexico's TV Azteca rises 4 pct after results
Shares in Mexico's No. 2 broadcaster TV Azteca jumped more than 4 percent on Wednesday following healthy second-quarter results, though the size of the rise puzzled many traders and analysts.
TV Azteca shares (TVAZTCACPO.MX: Quote, Profile, Research) were up 4.12 percent at 6.07 pesos in mid-morning trade, far outpacing a 0.71 percent gain on Mexico's benchmark IPC stock index.
"It could be because their results yesterday were good, and that's being reflected in the share price today," said one trader.
Others speculated the stock was boosted by extra trading volume after holders of Azteca's American Depositary
