LatinNews Daily - 26 October 2023

In brief: Mexico’s Walmex announces Q3 2023 profits up

*Walmex, the Mexican branch of the US supermarket giant, Walmart, has announced Q3 2023 results which show a net profit of M$13.63bn (US$743m), a 12.2% year-on-year increase. Total revenue for the quarter was M$213.07bn, up 7.7% year-on-year. Earnings before interest, tax, depreciation and amortisation (Ebitda) for the quarter rose 8.5% to M$22.97bn. According to the same report, Walmex added 24 new stores in Mexico and a further three in Central America. As of September 2023, it operated 2,914 stores in Mexico and 888 in Central America.

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