Walmex Delivers Steady Progress In 2009

Mexico's largest retailer, Wal-Mart de Mexico (Walmex), has posted sales growth of 10% in 2009 thanks to new store openings and a rise in sales at existing stores. Total sales for the year reached MEX2,689.4bn while sales at stores open for at least a year (same-store) increased by 3.4%. The firm reports that during 2009 it opened 275 new outlets and served 14% more customers. The rise in sales came against a particularly challenging economic backdrop and this resilience explains why Walmex's share price increased by 58% during the year.

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