Walmart Mexico's net profit increased 9.3% in the second quarter

Walmex, the Mexican and Central American branch of Walmart, announced its Q2 results recently, with net profit increasing 9.3% year-on-year to 12.51 billion pesos (684.12 million U.S. dollars), while revenue increased 6.4% to 225.75 billion pesos, thanks to an increase in sales and in-store traffic.

Walmex said same-store sales in Mexico increased 5.5% and same-store sales in Central America increased 2.6% in the quarter. The main drivers of the company's earnings came from growth in all formats and strong new store openings in the quarter. Walmex's spending in Mexico and Central America also increased with new store openings, increased staffing, and increased e-commerce investments.

This is the first quarterly results reported since the company's board of directors appointed Ignacio Caride as Walmex's new CEO in late April. Caride said: "Our business strategy continues to focus on omnichannel capabilities to better serve our customers, while we place greater emphasis on increased automation, digitization and simplification."

Walmex noted that total transactions in its e-commerce division in Mexico accounted for about 8% of total sales this quarter, and that the number of active users of its mobile service division reached 13.7 million in the second quarter, more than double the same period last year and an increase of 400,000 users from the first quarter.

In addition, the company has announced plans to make significant investments in Central America. In May, Walmex announced plans to invest approximately $700 million in Guatemala and approximately $600 million in Costa Rica over the next five years to promote business expansion and development in the region.

Author✎ Summer/
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