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Mexico's Chedraui reports slightly higher third-quarter profit
October 23, 2013 / 7:42 PM / 4 years ago

Mexico's Chedraui reports slightly higher third-quarter profit

MEXICO CITY, Oct 23 (Reuters) - Mexican supermarket chain Grupo Comercial Chedraui said on Wednesday its third-quarter profit rose 2.5 percent, helped by new store openings.

Chedraui, Mexico’s third biggest retailer by sales, said it earned 381 million pesos ($29 million) in the July-September period, compared with 372 million pesos in the same period in 2012.

The company said third-quarter revenue rose 2.8 percent to 16.2 billion pesos, helped by 16 new stores opened in the last 12 months in Mexico.

Same-store sales, sales at stores open at least a year, in Mexico fell 4 percent from the year-earlier quarter, while same-store sales in the United States rose 0.2 percent, Chedraui said.

Chedraui shares were down 1.7 percent at 41.75 pesos after it reported its results.

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