Profit of Wal-Mart of Mexico and Central America beats expectations

Wal-Mart de Mexico said Thursday that its net profit from continuing operations grew by almost a fifth in the third quarter thanks to higher sales and measures to contain costs.

Walmex, as the Mexico and Central America unit of Wal-Mart Stores is known, reported net profit from continuing operations of $425 million for the July-September period, up 19.5 percent from a year before.

Same-store sales, which only include stores that have been open for at least one year, grew 7.2 percent in Mexico and 6 percent in Central America.

Source: MarketWatch