By Anthony Harrup


MEXICO CITY -- Retailer Wal-Mart de Mexico SAB's sales and profit grew in the second quarter as economies in Mexico and Central America continued to recover from the pandemic-induced downturn.

Walmex, as the unit of Bentonville, Ark.-based Walmart Inc. is known, said net profit increased almost fivefold to 9.8 billion Mexican pesos ($485 million), equivalent to 0.56 pesos per share. Profit was lower in the year-earlier quarter because of a tax settlement with the Mexican government.

Sales in the April-June period grew 3.3% from the second quarter of 2020 to 174.7 billion pesos, with same-store sales in local currency up 4.7% in Mexico and 8.6% in Central America.

Earnings before interest, taxes, depreciation and amortization -- a measure of operating cash flow -- was up 15% at 18.1 billion pesos.

Walmex is Mexico's largest retailer, with 2,677 stores in Mexico and 861 in Central America at the end of the second quarter.


Write to Anthony Harrup at


(END) Dow Jones Newswires

July 22, 2021 17:40 ET (21:40 GMT)

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