Walmart De Mexico Reports Strong Profit Jump In 1Q 2016

Wal-Mart de Mexico reported net profit jumped 30 percent to 6.72 billion pesos, or $387 million, with sales rising 13.2 percent to 125.5 billion pesos, in the first quarter of 2016. According to the company, profitability and cash generation performed better than analyst forecasts. One of the factors that helped the retailer’s sales performance was the weakening of the Mexican peso against the US dollar. This strengthened the purchasing power of families who receive dollar remittances from relatives who together sent $24.8 billion back to the country in 2015.