Walmart Inc.'s operations in Mexico said its fourth-quarter revenue rose 6.7%, and reached 8.2% for the full year.
Walmart de Mexico y Centroamerica, frequently referred to as Walmex, released its fourth-quarter and full-year earnings on Thursday.
The quarterly revenue was led by Mexico's 8.1% increase but countered by growth of only 5.6% in Central America. That figure was hit by deflation in Costa Rica.
Same-store sales, or sales at stores open at least a year, expanded 7.9% in 2023. Sam's Club, Walmart's members-only warehouse division, delivered the highest same-store sales growth among all Walmex formats.
Same-store sales are considered an important indicator of a retailer's health.
Guilherme Loureiro, chief executive officer of Walmex, said the company continued expanding its footprint, opening 162 stores in the year to reach the milestone of 3,000 stores in Mexico.
Walmex' e-commerce business grew more than 20%, and its marketplace accelerated more than 40%.
Loureiro said the company will share its detailed plans for 2024 on its Walmex Day on March 12.