All Mexico articles – Page 2

  • News

    Walmart accused of cover up


    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 ...

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    Mexico City: A vibrant retail panorama


    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.

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    Liverpool Interlomas, Mexico City


    Remember when Selfridges arrived in Birmingham?

  • News

    Walmart de México opens first standalone pharmacy


    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


    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


    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


    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 ...

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    A world of international retail opportunities

    October 29 2010

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

  • News

    Soriana Q2 profits drop 19%


    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 ...

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    Walmex to step up Central American stores growth


    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 ...

  • News

    Soriana sales down 5.5%


    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


    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.

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    Walmart to use supply chain to cut costs in 2010


    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%


    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% ...