Mexican retailer Chedraui booked an increase in sales and earnings during 2013, boosted by store openings and lower financing costs.

The company said group sales rose 3.7% in the 12-month period, helped by the opening of 13 stores in the year. Sales totalled MXN66.3bn (US$4.99bn) during 2013, the group revealed.

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At the end of the year, Chedraui operated 211 Mexican stores and 45 outlets in the US. Mexican same-store sales rose 0.5% while the US like-for-like sales gained 2.5%.

Full-year net income rose 10.5% to MXN1.7bn, boosted by an 18.9% jump in fourth-quarter income when the company felt the benefit of lower financing costs.

Click here for the full announcement from Chedraui.

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