FINANCE

Wal-Mart de Mexico Q2 profit soars 24%

BY CSA STAFF

Mexico City Wal-Mart de Mexico SA reported late Monday that its second-quarter profits surged 24%. The Mexican unit of Wal-Mart Stores credited strong performance from its Central American stores for the results.

Walmex, Mexico’s second-largest retailer, said net income rose to 4.65 billion pesos (US $360 million) in the second quarter, up from 3.75 billion pesos a year earlier.

Total revenues rose 27% to 80.94 billion pesos from 63.89 billion a year ago.

“This increase comes from a very good performance both in Mexico and Central America,” said Scott Rank, CEO of Wal-Mart de Mexico.

Walmex is including the first full quarter of operations from stores recently acquired in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.

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REAL ESTATE

Regency names investment VP in Los Angeles

BY CSA STAFF

Regency Centers said Monday it has appointed John T. Mehigan as VP investments.

Located in the company’s Los Angeles office, Mehigan will be responsible for identifying, evaluating, and structuring profitable retail development opportunities throughout Southern California, said Regency.

Most recently, Mehigan served as senior development manager for Panattoni Development Co.

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News

Stewart helps Office Depot deliver backpacks to Indiana kids

BY CSA STAFF

INDIANAPOLIS Office Depot and the Office Depot Foundation announced that Tony Stewart, an Indiana native and driver of the No. 14 Office Depot/Old Spice Chevy Impala in the NASCAR Sprint Cup Series, will join the Foundation on July 22 to donate more than 5,000 backpacks to non-profit organizations and schools in the Indianapolis area.

The backpack donations will be made during a special “Back-to-School Backpack Celebration” event beginning at 2 p.m. local time at the Office Depot store located at 12417 North Meridian Street in Carmel, Ind. In addition to Stewart, special guests scheduled to attend include Katherine Blane, representing Senator Richard G. Lugar (R-Ind.), State Senator Mike Delph (R-29), State Representative Cindy Noe (R-87), Hamilton County Commissioner Christine Altman and Carmel City Council Member Ron Carter, the company reported.

 

“I am very proud to partner with the Office Depot Foundation again this year and to be able to help so many kids here in the Indianapolis area,” Stewart said. “This is a big year for the Office Depot Foundation because it is celebrating the 10th anniversary of its National Backpack Program, and I can tell you from experience how rewarding it is to see the look on these kids’ faces when they get a new backpack – it’s an automatic boost of confidence for them and helps them feel ready to take on the new school year just like everybody else. Of all the things I’ll do this weekend, participating in this program is definitely the most important.”

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