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Walmex's first quarter profit slumps

Wednesday, April 23, 2014

Mexico's biggest retailer, Wal-Mart de Mexico, reported a 4.5 percent slump in first-quarter profit.

The drop reflects weak consumer spending and lower sales at its warehouse division, Sam's Club.

The company, controlled by U.S. retailer Wal-Mart Stores, reported a profit of $364 million for the period from January to March.

Source: Reuters