UPDATE 2-Mexican retailers' Nov same-store sales up 0.9 pct

Thu Dec 13, 2007 11:38am EST
 
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MEXICO CITY, Dec 13 (Reuters) - Mexican retailers group ANTAD said on Thursday its members' same-store sales rose a mild 0.9 percent in November from the same month a year ago.

Despite Mexico's leading retailers kicking off end-year promotions in mid-November -- about two weeks earlier than in previous years -- their sales performance last month was way behind the 6.2 percent growth observed in November 2006.

Same-store sales are those from stores that have been open at least 12 months and are seen as the most accurate picture of retail trends.

Department stores posted the weakest sales performance in the month, according to ANTAD, formally known as the National Association of Supermarkets and Department Stores.

This year, retailers had an additional Friday compared to November of 2006. Fridays are when big department stores in Mexico usually hold their sweeping evening sales.

Market leader Wal-Mart de Mexico (WALMEXV.MX), which recently rejoined ANTAD, and rival supermarket chains Soriana (SORIANAB.MX), Comerci (COMEUBC.MX) and Gigante (GIGANTE.MX) are among the association's top members.

Walmex's same-store sales rose 1.4 percent in November compared with 7.8 percent in the year-ago month. Walmex is an affiliate of Wal-Mart Stores Inc (WMT.N).

ANTAD recently cut its 2007 same-store sales growth forecast to 1.5 percent, from a previous view of 2.5 percent, citing a weak consumption cycle.

Mexican retailers' same-store sales between January and November are up 1.1 percent. (Reporting by Gabriela Lopez and Cyntia Barrera Diaz, editing by Gerald E. McCormick)

 
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