Mexican retailer Walmex posts slight bump in fourth quarter profits
The logo of Walmart is pictured outside a store in Mexico City, Mexico July 27, 2023. REUTERS/Henry Romero
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MEXICO CITY (Reuters) – Walmart (NYSE:WMT)’s Mexico unit on Wednesday posted a 1.18% year-on-year rise in its fourth-quarter net profit, fueled by solid same-store sales growth in Mexico and Central America, the region where the global company operates.
Walmart de Mexico, Mexico’s biggest retailer, reported a net profit of 14.99 billion pesos ($883 million), according to a filing.
Quarterly revenue at the department store and grocery chain known as Walmex rose 6.6% from the same quarter a year earlier to reach 253.68 billion pesos.
Walmex noted in its filing that it opened 101 new stores during the October-to-December period, 93 of which are located in Mexico.
The retail giant added that its earnings before interest, tax, depreciation and amortization (EBITDA) during the fourth quarter rose 5.4% to total 26.70 billion pesos.
($1= 16.9666 Mexican pesos at the end of December)
