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UPDATE 1-Walmart's Mexico unit revenue grows 3.3%; store openings rise

By Reuters Staff
(Adds quotes, details)
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. ....

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Walmart's Mexico unit boosts logistics spending in $1 billion capex plan

2 Min Read
FILE PHOTO: Men walk past the logo of Walmart outside a store in Monterrey, Mexico February 12, 2018. REUTERS/Daniel Becerril/File Photo
MEXICO CITY (Reuters) - Walmart’s Mexico unit will ramp up logistics spending this year as a part of a 22.2 billion peso ($1.09 billion) plan aimed at further boosting online sales, which soared in 2020, the retailer said on Thursday.
Walmart de Mexico said it will put a quarter of its capex into logistics, compared to just 14% devoted to the segment in 2020, and invest even more heavily in the area over the next five years while pulling back on spending for brick-and-mortar supermarkets. The move mirrors its parent company’s investments in online sales. ....

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