By Anthony Harrup
MEXICO CITY--Retailer Wal-Mart de Mexico SAB (WMMVY, WALMEX.MX)
said its same-store sales were lower in March than they were a year
before, affected in part by the shift in the Easter holiday to
April.
Walmex, a unit of Arkansas-based Wal-Mart Stores Inc. (WMT),
reported total sales for March at 35 billion pesos ($2.7 billion),
up 1.2% from March 2013. Mexico accounted for 29.9 billion pesos,
and Central America supplied the rest.
Same-store sales in Mexico, that only include stores that have
been open for at least one year, fell 3% as 1.9% fewer customers
spent on average 1.1% less each visit.
The Easter holiday week, which generates increased sales, was in
March last year, but this year will be in April.
Walmex has been struggling to maintain growth, and as a result
pared down its store expansions in recent years. This year, the
company aims to increase floor space 5.2% with a focus on
small-store formats, while paying out more to shareholders in
dividends and share buybacks.
Rival retailer Organizacion Soriana SAB (SORIANA.MX) said it
will invest 4.1 billion pesos this year to open 25 stores and
remodel as many as 35 others, expanding floor space about 3%.
Walmex shares closed down 1.2% on Thursday on the Mexican stock
exchange at 30.10 pesos. Soriana shares fell 0.4% to 39.36
pesos.
Write to Anthony Harrup at anthony.harrup@dowjones.com
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