|Mexico's Walmex June Same-Store Sales Seen Up 5.4 Pct|
Gabriela Lopez - Reuters
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July 07, 2010
Monterrey, Mexico - Mexico's top retailer, Wal-Mart de Mexico (Walmex), is expected to post a 5.4 percent rise in June same-store sales, helped by World Cup-related promotions.
Five analysts polled by Reuters said Walmex's results would be considerably better than in June 2009, when same-store sales slipped 0.1 percent.
But they warned that competition remains tough and pressure will mount again in coming months.
"Mexican retailers should have a healthy month in terms of same-store sales, driven by a one-time pickup in sales of discretionary items (sales of electronics around the World Cup)," Credit Suisse said in a report.
The month-long soccer tournament started in mid-June, leading retailers to launch big promotions on food and on televisions and other electronic devices. The promotions are expected to lift the amount spent by customers on every visit to Walmex stores.
The World Cup ends on July 11.
Walmex, a unit of U.S. retail giant Wal-Mart Stores Inc (WMT.N), is expected to file sales results on Wednesday after the market close.
Its shares rose 2.04 percent to 29.56 pesos on the local stock exchange.
(Editing by John Wallace)