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By Reuters Staff
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MEXICO CITY, July 22 (Reuters) - Walmart’s Mexico unit on Thursday said revenue grew 3.3% in the second quarter as it revved up store openings again after the pandemic slowed brick-and-mortar expansion.
Walmart de Mexico, the biggest retailer in Mexico, brought in revenue of 174.7 billion pesos ($8.8 billion) in the period.
It also posted net profit of 9.8 billion pesos ($491.3 million), far outpacing the year-earlier period’s 1.7 billion pesos, when a major tax charge in Mexico offset a shopping spike due to coronavirus stay-at-home measures.
Walmart de Mexico, also known as Walmex, opened 25 new stores from April to June compared with just 12 a year before.