ANTAD: same-store sales in Mexico up 3.1% last month

Write: Pulkita [2011-05-20]

ANTAD: Mexico same-store sales rise in February

Same-store sales at Mexican retailers rose 3.1 percent in February, retailers' organization ANTAD said on Tuesday, as the economy continued its recovery from a deep recession.

Growth in sales at department stores drove the increase in February, when total sales were up 8.4 percent year-over-year including new stores.

Mexico's economy is recovering from a slump last year and is expected to expand around 4 percent in 2010. The trade association has estimated that same-store sales will probably grow 0.4 percent during the year.

In January, same-store sales rose 3.8 percent over the year-ago period.

Mexico's retail sector is led by Wal-Mart de Mexico, which dominates smaller competitors like Soriana.