Mexican retailer Walmart de Mexico (Wal-Mex) has this week reported on an increase in third-quarter net profit of 10 per cent, up to US$338m.
For the period ended 31 September 2010, total revenue climbed 27 per cent to US$6.46bn, with sales of US$6.43bn and other income of US$27.1bn, Planet Retail reported.
Quarterly growth was attributed by the group to a February takeover of more than 500 stores in Central America, as well as the opening of 133 outlets so far in 2010.
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The group said it was confident Sosef’s “extensive experience and innovative vision” would drive the division to new heights
Eight members elected at the organisation’s recent AGM
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