Comerci And Soriana Post Contrasting Results

Mexico's second and third largest grocery retailers have posted contrasting results for the second quarter of 2009. Number two retailer Soriana saw its profits rise by X% to reach MXN884mn (US$87mn) thanks to efficiency gains while number three Comerical Mexicana (Comerci) posted a 71% fall in net profits as it was obliged to channel money towards servicing its massive debts. Paradoxically, over the first quarter Comerci saw its same-store sales increase while Soriana posted a decline in same-store

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