Walmart de Mexico quarterly revenue slides on weak Central America sales
Reporting by Daina Beth Solomon and Noe Torres, Editing by Rosalba O’Brien, Reuters
via WHTC (MI) - Apr 27, 2021
MEXICO CITY (Reuters) -Walmart’s Mexico unit on Tuesday said its first quarter revenue fell slightly from a year ago, hit by weaker sales in Central America where economies have suffered from pandemic lockdown measures.
Walmart de Mexico, known locally as Walmex,, brought in revenue of 170.76 billion pesos ($8.36 billion) in the January-to-March period, down 0.3% from a year ago.
While total sales in its main Mexico market grew 0.5%, sales in Central America fell 2.7%.
Overall, the company reported net profit of 10.1 billion pesos ($493.2 million) in the quarter, up 0.7% from the year-earlier period.
Walmart de Mexico said in a statement...