MEXICO CITY (Reuters) – Walmart’s Mexico and Central America unit reported on Wednesday first-quarter net profit rose 14.4% year-on-year, helped by strong same-store sales growth in all markets.
Walmart (NYSE:) de Mexico, the country’s largest retailer, reported net income of 13.18 billion pesos ($797.5 million), above the average estimate of 12.93 billion pesos projected by analysts polled by LSEG.
The company, also known as Walmex, said in a filing to Mexico’s main stock exchange that same-store sales rose 9.4% in Mexico and 8.0% in Central America.
The department store and grocery chain’s quarterly revenue rose 9.8% from the same quarter a year earlier to P226.19 billion, beating the average P224.41 billion estimate of analysts surveyed by LSEG.
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 10.3% to P24.62 billion for the quarter.
($1 USD = 16.5310 Mexican pesos at the end of March)