MEXICO CITY (Reuters) - Annual growth in Mexican same-store sales accelerated in February, when consumer confidence hit a record peak, data from retail group ANTAD showed on Tuesday.
The group, whose members include chains Soriana and Chedraui, reported sales growth of 3.3 percent year-on-year in February. For January, ANTAD reported a sales increase of 2.5 percent year-on-year.
In February, Mexico’s consumer confidence index reached a record 119.9 points, gaining for the third month in a row after President Andres Manuel Lopez Obrador took office in December.
Total sales for ANTAD members, including newly opened stores, rose 7.8 percent from February last year.
ANTAD said it used adjusted figures to reflect the exit of Wal Mart de Mexico, Mexico’s biggest retailer, from the group in January. The company said it had left various industry groups as part of a change in its business strategy.
Reporting by Noe Torres and Daina Beth Solomon; Editing by Peter Cooney