Walmart de Mexico, Mexico's largest retailer, on Thursday reported a nearly...
MEXICO CITY - Walmart de Mexico, Mexico’s largest retailer, on Thursday reported a nearly 10% jump in second-quarter net profit, beating expectations as higher traffic partly attributed to Mother’s Day and the summer season boosted sales.
Sales at Mexican stores that have been open at least a year rose over 5%, signaling healthy performance for parent company Walmart Inc’s largest overseas market by store count. Central America’s same-store sales, however, only rose 1.7%, hampered by a weak regional economy that has put pressure on discretionary spending.
Building on its e-commerce push, Walmart de Mexico said it is in final talks with financial service providers to partner on Cashi, a digital payments app launched by the retailer last year that aims to help shoppers who lack bank accounts do online transactions.
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