MEXICO CITY (Reuters) -Walmart’s Mexico and Central America unit posted a 9.3% year-on-year climb in its second-quarter net profit on Wednesday, as its sales and in-store traffic grew.
Net profit reached 12.51 billion pesos ($684.12 million), from revenues up 6.4% to 225.75 billion pesos, the company said in a statement.
Same-store sales in the quarter were up 5.5% in Mexico and 2.6% in Central America, the firm, known as Walmex, said.
It added that its earnings were driven by growth in its various store formats and strong performance by new stores opened in the quarter.
The quarter’s results are the first since the company’s board of directors appointed Ignacio Caride as Walmex’s new chief executive officer at the end of April.
“Our business strategy continues to focus on our omnichannel abilities to better serve our clients, at the same time that we are putting greater emphasis on strengthening automation, digitalization and simplification,” Caride, the company’s former e-commerce head, said in the company’s statement.
($1 = 18.2862 Mexican pesos at end-June)
(Reporting by Kylie Madry and Aida Pelaez-Fernandez; Editing by Brendan O’Boyle)
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