Wal-Mart de Mexico’s Profit, Sales Jump in Latest Quarter

10/25/16 The Wall Street Journal

5266815680_ec09e9d38f_b.jpgMEXICO CITY—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.

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