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Mexico's Chedraui reports slightly higher third-quarter profit
October 23, 2013 / 7:43 PM / 4 years ago

Mexico's Chedraui reports slightly higher third-quarter profit

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

Chedraui (CHDRAUIB.MX), 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.

Reporting by Elinor Comlay. Additional reporting by Gabriela Lopez in Monterrey

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