Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Wal-Mart de Mexico Falls to Two-Year Low as Taxes Crimp Sales

Wal-Mart de Mexico SAB, Latin America’s biggest retailer, fell to the lowest since September 2011 after a report showed sales slipped at its stores.

Walmex, as the company is also known, retreated 2 percent to 30.58 pesos at 9:44 a.m. in Mexico City. It was one of the worst performers on the country’s IPC index of 35 stocks, which retreated 0.4 percent. The retailer accounts for 6.6 percent of the benchmark’s weighting, the seventh highest.

Sales at Mexican stores open at least a year fell 3.8 percent in January from a year earlier, the biggest drop since September and the sixth contraction in the past seven months, according to a stock exchange filing yesterday. The Latin American country raised a sales tax in regions bordering the U.S. to 16 percent from 11 percent last month and instituted a new 8 percent levy on junk food.

The report “marks a slower than expected start of the year,” Luis Willard, a Mexico City-based analyst at Corporativo GBM SAB, wrote in an e-mailed research report today. “The company -- and the industry as a whole -- should continue to experience an uneven first part of the year, as consumers adjust their budgets to incorporate the effect of higher taxes.”

Customer traffic at Walmex cash registers fell 0.8 percent, while a measure of how much consumers spent on each visit declined 3.1 percent. The drop in average ticket, as the gauge is known, was the sharpest since April 2010, UBS AG wrote in an e-mailed report today, based on Walmex data.

An index of consumer confidence fell to 84.5 in January, the weakest reading since April 2010, according to a Feb. 5 report from the national statistics agency.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.