Soriana Posts Improved Profits But Declining Sales

Mexico's second largest grocery retailer Soriana has reported an increase in net profits but a slide in sales for the third quarter of 2009. Over the period, net profits more than doubled to reach MXN55.17mn, from MXN362.9mn in the same period of 2008. However, net sales were hit by the economic slowdown, dropping by 8% to MXN21.96bn, while same-store sales retreated even more quickly falling by

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