Mexico City, (Reuters) .- Walmart’s actions in Mexico (Walmex) suffered on Thursday their greatest daily fall in about seven years, after reporting on the eve a weak quarterly report of results.
Walmex’s titles, with a presence also in Central America, sank 7.04% to 53.49 pesos, their worst session since November 2018, also spinning its fifth consecutive day of losses.
Walmart de México reported Wednesday afternoon that his profits of the second quarter decreased 10.3% per year, in the midst of a slower recovery than expected in consumer spending. Even so, their sales increased 8.3%.
Lee: Walmart’s net earnings of Mexico fall 10.3% in the second quarter
“After the results, the challenges are accentuated to meet expectations. Although we hope that the second semester reflects a more positive environment for consumption, the company maintains a very important challenge: recovering profitability,” said Grupo Financiero Banorte.
“In the short term, we expect greater volatility in the price of the action,” the firm added.
Monex Financial Group maintained its “purchase” recommendation for the Walmart papers of Mexico, with an objective price of 70 pesos for the end of the year.
Lee: Walmart de México loses almost 61,000 MDP in first operations this Thursday
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