Mexico's largest retailer, Wal-Mart de Mexico or Walmex, late on Monday announced a 26 percent rise in fourth quarter profits to MXN$8.23bn compared to MEX$6.54bn during the final quarter of 2010. Results were achieved through an aggressive expansion and a major holiday sales event in the last months of 2011.

Revenues according to retailer climbed 16 percent to MEX$116bn from MEX$100bn a year earlier.

In 2011 Walmex opened 364 stores in Mexico and 76 in Central America, and now operates 2,722 shops and restaurants globally.