Mexico City, (Reuters) .- Walmart’s profits from Mexico (Walmex) decreased 10.3% per year in the second quarter, amid a slower recovery than expected in consumer spending.
The retailer with operations also in Central America reported a net profit of 11,227 million pesos, compared to 12,510 million pesos registered between April and June 2024.
“We begin to observe a gradual rebound in sales. However, recovery has been slower than expected, with mixed results in consumer confidence and with uncertainty still present,” said Ignacio Caride, executive president of Walmart of Mexico, in the presentation of results.
Even so, the company’s net sales rose 8.3%, to 246,254 MDP, animated by 6% of its income both in Mexico and Central America.
During the second quarter, Walmart de México opened 25 new stores: 20 of them in Mexico, four in Costa Rica and one in Guatemala.
Their profits before interest, taxes, depreciation and amortization (Ebitda) decreased a marginal 0.2%, to 23,495 MDP.
Follow business information in our specialized section
