Walmex’s new e-commerce VP eyes groceries to propel online business

07/11/2018 Reuters

Wal Mart de Mexico’s (WALMEX.MX) new e-commerce head plans to play to its strengths in grocery deliveries to help the country’s largest retailer stand apart from rivals, like Amazon.com Inc and his former employer MercadoLibre Inc, he said in an interview Wednesday.

Ignacio Caride, who joined the company as a vice president last week, said internet food or household orders can encourage shoppers to seek non-grocery goods from the website or mobile app of Walmex, as the company is known.

“Leveraging the food and supermarket delivery part adds a very big competitive advantage,” said Caride, who spent 13 years at online marketplace MercadoLibre. “It generates a shopping habit.”

Online and brick-and-mortar businesses alike have been boosting e-commerce investments in Mexico, pressuring retailers to stay ahead with efficient logistics, broad inventories and fast shipping.

Read more…

Advertisements

Mexico’s same-store sales up 7.9 percent in June – ANTAD

07/10/18 Reuters

Mexico’s retailers association said on Tuesday that sales at stores that had been open for at least a year increased by 7.9 percent in June compared to the same month last year.

Total sales in Mexico rose 11.2 percent from June 2017, the association said.

The retail group, known as ANTAD, includes chains such as Wal-Mart de Mexico and Soriana.

Read more…

Mexico’s Televisa says still considering spinning off units

07/10/18 Reuters

Mexican broadcaster Televisa may need five more months to come to a decision about whether to spin off some divisions or keep the company intact.

Televisa, the biggest producer of content in Spanish, said on a call discussing its second-quarter results on Tuesday that it is still actively reviewing its corporate structure and will conclude the process before the end of this year.

“This is a very important decision for Televisa, and we are taking our time,” said Co-Chief Executive Alfonso de Angoitia, who recently succeeded longtime leader Emilio Azcarraga. He added that the deliberations would come down to whether “Televisa will be more valuable as a whole, as it is today, or whether the pieces would be more valuable.”

Televisa also spoke of potential spin-offs during calls with analysts in February and April.

Read more…

EMERGING MARKETS-LatAm currencies rise; Mexico peso climbs to two-month high

07/10/18 Reuters

Mexico’s peso hit its highest level in more than two months on Tuesday, advancing with
other Latin American currencies, including the Brazilian real, as traders took heart from signals that U.S.-China trade tensions have yet to affect global growth.
The peso strengthened by over 1.5 percent to end trading at 18.93 per dollar, the first time it had closed below the 19-per-dollar mark since the start of May. Brazil’s real also firmed, finishing the session up 1.84 percent.
“The (Mexican) peso appreciation stems from rising demand for pesos due to the expectation that the national currency will continue to strengthen in coming months, especially if the NAFTA renegotiation restarts in a cooperative atmosphere,” said Banco BASE analyst Gabriela Siller in a note to clients.

Read more…

Japan’s Jtekt delays Mexico auto parts expansion plan pending NAFTA

07/09/2018 Reuters

Japanese auto components supplier Jtekt Corp (6473.T) said it was holding off on expanding production in Mexico, awaiting the outcome of talks over the North American Free Trade Agreement, known as NAFTA.

Japan’s auto industry has been plagued by uncertainty since U.S. President Donald Trump last year launched a renegotiation of NAFTA, seeking to repatriate manufacturing jobs to the United States. Automobiles and auto parts are key export products for the country.

Jtekt President Tetsuo Agata said prospective automaker clients were waiting for the outcome of the talks before making new decisions on their Mexico operations.

“They are watching the NAFTA situation carefully. So we also have to hold off on new production plans,” he told reporters at its Nagoya headquarters.

Read more…

Mexican broadcaster Televisa triples profit in Second quarter

07/09/2018 Reuters

Mexican broadcaster Televisa’s quarterly profit tripled, as the company sold off a valuable stake in a Spanish media firm and basked in a World Cup glow, the company reported on Monday.

Grupo Televisa (TLVACPO.MX), Mexico’s largest broadcaster by far, reported a net profit of 4.297 billion pesos ($216.22 million) in the second quarter, up from 1.419 billion pesos in the prior-year period. Net sales reached 26.7 billion pesos for the three-month period ending in June, compared with 22.976 billion pesos a year earlier.

The quarter included Televisa’s sale of a 19 percent stake in Spanish media group Imagina, the Mexican broadcaster said. The company has said it will seek to shed assets as it invests more in content and distribution.

Read more… 

North American auto associations urge renewed focus on NAFTA talks

07/09/2018 Reuters

Canadian, Mexican and U.S. auto trade associations on Monday urged a “renewed focus” in talks to reshape the North American Free Trade Agreement, saying all parties should return to the negotiating table now for a “cohesive three-country” deal.

“It is in the best interest of all three countries to refocus on establishing a new NAFTA agreement that will allow the North American auto industry to remain globally competitive,” said the statement, released jointly by auto parts and car manufacturing associations from the three nations.

Read more…