Walmart's sales rise 10% in Mexico

Walmart de Mexico (NYSE:WMT), the big-box retailer's Mexican division, reported a sales growth of 9.9 percent from the second quarter of 2014.

Also known as Walmex, Walmart's southern division reported sales in Mexico and Central America rose 8.1 percent to $2.36 billion, an overall rise in sales of 9.6 percent compared to this period last year. 

Specifically, same-store sales were up 3.6 percent in the quarter and 5.2 percent in the first half of 2015. Second-quarter sales marked a 9.9 percent increase from a year prior, making it the biggest rise in more than two years.

Walmart is Mexico's largest retailer. The company is slowly coming back after several years of sluggish growth and declines in consumer traffic. Looking ahead, the retailer plans to expand its physical floor space by 2.4 percent in 2015, adding 162,000 square meters.

Walmex operates 2,993 stores, and 2,300 are in Mexico.

Last fall, Walmart's Mexican and Central American business units announced a three-prong plan to grow sales by focusing on same-store sale gains, adding square footage and increasing e-commerce transactions. Also in 2014, the company announced it would invest $1.1 billion to increase its Central American retail space by 7 percent.

For more:
-See this Nasdaq article

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