Walmart Mexico's first quarter results announced! Revenue increased by 10%

Walmart Mexico announced its first-quarter financial results on April 26 and said the company will continue to increase investment to control costs while improving productivity to stimulate profit growth, according to foreign media Reuters.

Data showed that Walmart Mexico's revenue in the first quarter increased 10% to 187.8 billion pesos ($9.4 billion), and net profit increased more than 10% to 11.1 billion pesos.

In addition, first-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) reached 20.7 billion pesos, up 6.4%, slightly below expectations. Same-store sales grew 9%, but did not keep up with the overall industry.

Walmart Mexico said: "Although revenues have continued to grow, the market is growing faster than we are."

It is learned that in the first quarter of this year, the revenue growth of Walmart Mexico's core department was lower than the growth of expenses. The main reason is that Walmart paid a large amount of wages, which led to a decline in turnover. In addition, the low-price strategy adopted led to a shrinking of its gross profit margin.

Guilherme Loureiro, CEO of Walmart Mexico, said that inflation has had a huge impact on Mexico, and Walmart is working with suppliers to actively adopt strategies to drive prices down. It is expected that future revenue will not be optimistic, but it is believed that Walmart will gain more buyers over time.

Editor ✎ Nicole/

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