Wal-Mart de Mexico Sales, Profit Surge in 3rd Quarter Anthony Harrup - The Wall Street Journal
go to original October 26, 2016

Retailer Wal-Mart de Mexico SAB reported growth in sales and profit in the third quarter as Mexicans continued to consume at a solid pace thanks to credit and employment growth amid subdued inflation.

Walmex, as the unit of Bentonville, Ark.-based Wal-Mart Stores Inc. is known, reported a profit of 10.05 billion Mexican pesos ($543 million) in the three months through September, compared with 5.92 billion pesos in the year-earlier quarter.

Net profit from continuing operations rose 17% from a year before to 6.7 billion pesos. Walmex agreed in August to sell clothing store chain Suburbia to department store operator El Puerto de Liverpool SAB for about $1 billion. The deal is awaiting antitrust approval to close.

Sales rose 11% to 126.86 billion pesos, while earnings before interest, taxes, depreciation and amortization, or Ebitda, a measure of operating cash flow, rose 12% to 11.79 billion pesos.

The median estimate of analysts polled by The Wall Street Journal called for net profit of 6.59 billion pesos on sales of 127.15 billion pesos and Ebitda of 11.94 billion pesos.

Walmex shares closed down 0.4% on the Mexican stock exchange before the report.

Read the rest at The Wall Street Journal

Related: Wal-Mart de Mexico: A Top Pick Despite Mexico’s Woes (Barrons)

Related: Walmart Delivers Lowest Prices Ever for Domestic Money Transfers (Businesswire)

Photo: Reuters

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