January 28, 2013 / 10:05 PM / in 5 years

UPDATE 1-Mexico retail group eyes 5 pct sales growth in 2013

* Mexican same-store sales rise 4.7 pct in 2012 vs 2011

* Dec same-store sales rise 2.3 pct

MEXICO CITY, Jan 28 (Reuters) - Mexican retailer group ANTAD on Monday said sales at stores open for more than a year rose 4.7 percent in 2012 from the previous year, and that same-store sales should grow 5 percent in 2013.

The 2012 growth rate beat the organization’s forecasts of 4.5 percent, on strength in department store sales and a welcome increase in the purchase of durable goods like electronics and appliances.

“This is good news for Mexican families and especially for the national economy,” said ANTAD President Vicente Yanez, because it meant Mexican families were able to purchase more than just food and clothes.

He said at a conference in Mexico City that same-store sales rose 2.3 percent in December, from same month a year earlier.

ANTAD is made up of 103 retailers, including major chains Wal-Mart de Mexico and Soriana.

ANTAD expects strength in department stores to lead growth in 2013, with a 9 percent rise in same-store sales over 2012, buoyed by strong consumer confidence.

Mexican consumer confidence rose in December for a third month in a row to nearly a five-year high on shoppers’ optimism about the economy.

But Yanez cautioned that security problems and unfair business practices, such as those of Mexico’s largely untaxed black market economy, would pose the biggest challenges to growth.

“It’s not building Mexico, it’s destroying Mexico,” he said, referring to the broad swathe of informal workers who help keep Mexico’s tax take at the bottom of the OECD countries.

President Enrique Pena Nieto, who took office in December, ushering the centrist Institutional Revolutionary Party back into power, has promised a raft of reforms aimed at bolstering the country’s tax take and shrinking the informal market.

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