Walmex Posts Resilient Figures

Mexico's largest retailer, Wal-Mart de Mexico (Walmex) has announced that its profits for the second quarter of 2009 increased by 16%, to MXN3.75bn (US$285mn) on the back of an 11% rise in revenues. Sales came in at MXN63.89bn, with help from the timing of Easter, strong store expansion and aggressive promotions. This resilient performance indicates that the firm's business model can prosper despite a substantial weakening in the Mexican

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