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UPDATE 1-Mexico's Soriana says second-quarter profit falls 1.6 percent
July 26, 2013 / 3:45 PM / in 4 years

UPDATE 1-Mexico's Soriana says second-quarter profit falls 1.6 percent

MEXICO CITY, July 26 (Reuters) - Mexican retailer Soriana on Friday said its second-quarter profit fell nearly 2 percent, hurt by higher costs that more than offset a slight increase in sales.

The supermarket chain, Mexico’s second-largest behind Wal-Mart de Mexico, said customers were spending cautiously in the quarter as the nation’s economy slowed.

Soriana reported a quarterly profit of 736 million pesos ($58.8 million), down 1.6 percent from a year earlier.

Revenue rose to 25.6 billion pesos from 25.5 billion pesos.

Soriana shares were down 2.2 percent at 43.60 pesos in morning trading.

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