07/26/16 The Wall Street Journal
MEXICO CITY— Wal-Mart de Mexico SAB, Mexico’s biggest retailer, said Tuesday its net profit fell in the second quarter, while sales and operating profits saw double-digit increases from a year earlier.
The unit of Arkansas-based Wal-Mart Stores Inc. reported net profit of 6.19 billion Mexican pesos ($330 million) in the April-June quarter, compared with 6.81 billion pesos a year earlier. Excluding discontinued operations, net profit was up 14.5%.
Sales rose 11.5% from a year before to 127.55 billion pesos, helped by strong consumption in Mexico where the company runs 2,362 stores, and gains in Central America where it has 709 stores.