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Walmex posts flat profit growth in Q3'18

Wal-Mart de México SAB de CV, the Mexican unit of U.S. supermarket giant Walmart Inc., posted nearly flat profit growth in the third quarter of 2018 on a year-over-year basis.

The retailer, known as Walmex, said Oct. 18 that third-quarter net profit rose 0.1% to 8.68 billion Mexican pesos. Walmex reported flat EPS of 49.7 centavos in the quarter as compared to the same quarter a year ago.

Revenue rose 7.9% from a year earlier to reach 147.77 billion pesos.

During the company's earnings call, President and CEO Guilherme Loureiro said the company opened 25 stores in the third quarter, including 15 in Mexico and 10 in Central America.

As of Oct. 17, US$1 was equivalent to 18.79 Mexican pesos.