Walmex Reports Strong Sales Jump In 1Q 2015

Wal-Mart de Mexico said profits rose 9 percent to 5.175 billion pesos, or $339 million, in the first quarter of 2015, compared with 4.75 billion pesos in the previous year. Due to higher costs, however, earnings were below analysts' forecast of 5.558 billion pesos, according to a Reuters survey of six analysts. Also, revenue expanded 9 percent to 111.7 billion pesos, with same-store sales rising 4.9 percent. Walmex opened11 new stores during the quarter.