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Walmart (NYSE:WMT) de Mexico, the biggest retailer in Mexico, brought in revenue of 187.8 billion pesos ($9.4 billion)in the January-to-March period.
“In the first quarter, the market grew faster than we did,” the retailer said in a statement accompanying results, referring to companies that comprise Mexico’s retail association ANTAD.
It added that it planned to keep investing to pull ahead of rivals while boosting productivity and managing costs carefully.
The retailer’s net profit rose more than 10% to reach 11.1 billion pesos. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 6.4% to 20.7 billion pesos, slightly below a Refinitiv estimate.
($1 = 19.8911 pesos at end-March)
