Walmart Mexico posts 8.9% increase in revenues for November 2012

12 December 2012 (Last Updated December 12th, 2012 02:00)

Mexican supermarket chain Wal-Mart de Mexico (Walmex) has reported an 8.9% increase in total revenues to MXN37.76bn ($2.95bn) when compared to the corresponding month of 2011.

Mexican supermarket chain Wal-Mart de Mexico (Walmex) has reported an 8.9% increase in total revenues to MXN37.76bn ($2.95bn) when compared to the corresponding month of 2011.

Total sales for the company were consolidated from increased Mexican sales of 9.8% and 2.5% increase recorded in Central American outlets.

Comparable store sales have also recorded a 5.5% increase compared to November 2011 while transactions fell by 2.6%.

The Mexican arm of US-based supermarket giant Walmart has attributed the sales boost to the Black Friday shopping that enlisted purchase of high-value merchandise with shoppers spending 8.6% more compared to the last year.

Meanwhile total sales for first 11-months rose 11.1% to MXN363.48bn ($28.33bn) from the same period in 2011, of which 86% is attributed to the sales in Mexico.

The retailer has opened 34 outlets across Mexico and four in Central America taking the total outlet count to 2,927 in the region.

Walmex was accused of paying bribes to Mexican officials to speed-up approvals for store-openings in June 2012, following which the retailer has planned to slow-down its expansion.

The company, however, remains on couse to open nearly 325 to 335 outlets and restaurants in 2013 fiscal year.