© Reuters. FILE PHOTO: A customer shops inside a Walmart store in Mexico City, Mexico March 28, 2019. REUTERS/Edgard Garrido/File Photo
(Reuters) -Walmart’s Mexico unit on Wednesday posted a 3.7% rise in its net profit for the first three months of 2023, rising to 11.5 billion pesos ($639 million), as it expanded its footprint with 12 new stores over the quarter.
The company, known as Walmex, posted a first quarter revenue up 9.7% from a year earlier, landing at 206.07 billion pesos.
Walmex’s earnings before interest, taxes, depreciation and amortization (EBITDA) meanwhile grew 7.7% to 22.31 billion pesos, with same-store sales up 12.4% in Central America and 8.7% in Mexico.
“New stores contributed 1.4% to total sales growth,” Walmex said in a statement.
($1 = 18.0201 pesos at end-March)