All Mexico articles – Page 2

News

Walmart accused of cover up

2012-04-27T07:00:00Z

Walmart has been accused of covering up allegations that its managers in Mexico used widespread bribery to secure its presence in the country and expand market share. Walmart vice-president of corporate communications David Tovar admitted that the retail giant was investigating the allegations but said: “We don’t have a full ...

Analysis

Mexico City: A vibrant retail panorama

2012-04-02T07:00:00Z

Mexico City is a mega-city that most Europeans will never get to, but those that can will be met with a vibrant retail panorama.

Gallery

Liverpool Interlomas, Mexico City

2012-02-27T07:00:00Z

Remember when Selfridges arrived in Birmingham?

News

Walmart de México opens first standalone pharmacy

2011-10-18T07:00:00Z

Walmart de México has opened its first standalone pharmacy in the country, Planet Retail has learned. The opening is part of a trial project and the retailer has not revealed any further details about it. Walmart already operates a number of pharmacies in Mexico, generally located next to larger stores ...

News

Walmart de Mexico reports net profit decrease

2011-07-27T11:06:00Z

Walmart de Mexico has reported net profit of MXN4.5bn (£232m) for its second quarter, down 3.4% on the previous year.Net sales increased 9.1% to MXN87.9bn (£4.53bn). EBITDA for the quarter amounted to MXN7.7bn (£397m).Executive president and chief executive of Walmart de Mexico Scot Rank said the quarter was characterised by ...

News

Oxo total revenue jumps 16.3% to £3.2bn

2011-03-22T09:24:00Z

Convenience store chain Oxxo has reported a total revenue increase of 16.3% for the 2010 financial year, up to 62.3bn pesos (£3.2bn). Sales growth was driven by the opening of 1,092 net new stores during the year and a 5.2% increase in like-for-like sales. Store traffic experienced a 3.9% increase, ...

News

Sephora Americas to enter Mexico through JV with Grupo Axo

2010-11-04T14:46:00Z

LVMH-owned perfumery Sephora Americas has signed a joint venture agreement with Grupo Axo to establish a retail presence in Mexico. The two partners will begin operations with two store openings in the second half of 2011 and significant additional store openings targeted each year thereafter.This joint venture further signifies Sephora’s ...

Analysis

A world of international retail opportunities

2010-10-29T00:00:00Z

Emerging markets globally have retail potential, but could any be the new China? By Tim Danaher

News

Soriana Q2 profits drop 19%

2010-08-05T00:00:00Z

Soriana, the country’s second-largest grocer behind Walmart, reported a 19% drop in net profit in the second quarter to MXP716m (£38m).The slump was attributed to higher financial costs, despite an increase in sales of 6.5% to MXP22.8bn (£1.2bn). This improvement in sales was confined mostly to the central and southern ...

Analysis

Walmex to step up Central American stores growth

2010-06-25T00:00:00Z

Scot Rank, the chief executive of Walmart’s Central American unit, Walmex, confirmed to a conference audience last week that the company has identified 300 new cities in Mexico and Central America where it could open stores, in addition to further expansion in the 348 cities in the region in which ...

News

Soriana sales down 5.5%

2010-03-05T00:00:00Z

Mexican grocery retailer Soriana posted a like-for-like sales decline of 5.5% in its 2009 financial year.Net consolidated profit soared 66.4% to MXN2.9bn (£152.4m) against 2008, while net sales fell 4% to MXN91.8bn (£4.8bn). During the period, the retailer managed to make savings of MXN1bn (£52.6m) through its efficiency plan.By the ...

News

Lowe’s opens first store in Mexico

2010-02-12T00:00:00Z

US-based home improvement chain Lowe’s has opened its first store in Mexico, in the northern industrial city of Monterrey.The retailer has made a $100m (£61.6m) investment in the Latin American country and plans to open five stores in the Monterrey area over the next few years.

News

Walmart to use supply chain to cut costs in 2010

2010-01-04T09:40:00Z

Walmart, the world’s biggest retailer, estimates that savings of between 5-15%, or $4bn-$12bn, will be possible by globalising its purchasing.

News

Walmex Q3 profits jump 18%

2009-10-16T00:00:00Z

Wal-mart’s Mexican subsidiary Walmex’s third-quarter net profit jumped 18% as its low price promotions helped it weather the economic slump.The retailer said it earned MXN3.86bn (£177m) in the period, compared with MXN3.26bn (£149m) a year earlier. Total revenue for the quarter rose 12% to MXN64.59bn (£2.96bn), while EBITDA grew 17% ...