Mexico's Chedraui reports higher first-quarter profit
MEXICO CITY, April 29 (Reuters) - Mexican supermarket chain Chedraui on Wednesday reported a 10 percent rise in first-quarter profit, helped by a pickup in sales at existing and new stores.
Chedraui, Mexico's No. 3 retailer, reported a profit of 460 million pesos ($30 million), compared with 418 million pesos in the year-earlier period.
Revenue rose 9.6 percent to 18.296 billion pesos.
Sales at stores open at least a year in Mexico increased 3.8 percent from the first quarter of 2014, the company said. Chedraui opened nine new stores in Mexico and the United States in the last year.
The company's shares closed down 2.25 percent at 46.06 pesos.
($1 = 15.2610 pesos at end March) (Reporting by Elinor Comlay; Editing by Leslie Adler)
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