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Walmart de Mexico dips to two-year low

Monday, February 10, 2014

Walmart de Mexico's shares dropped 2 percent, the lowest since September 2011, after a report showed sales slipped at its stores.

Sales at Mexican stores open at least a year fell 3.8 percent in January, compared to the same monty a year before, marking th company's sixth contraction in the past seven months.

The firm's sales took a hit after the Mexican government increased a sales tax in regions bordering the U.S. from 11 to 16 percent, and introduced a new 8 percent levy on junk food.

Source: Bloomberg