MEXICO CITY (Reuters) -Walmart’s Mexico and Central America unit, known as Walmex, reported a 7% dip in its first-quarter net profit on Tuesday, coming in below analysts’ expectations
Net profit fell to 12.32 billion pesos ($602.1 million) for the first three months of 2025, short of a 13.10 billion peso forecast from analysts polled by LSEG, even as revenue exceeded forecasts with a 7% jump.
Revenue rose to 240.97 billion pesos, above a 238.57 billion pesos forecast.
The company reported a 1.4% rise in same-store sales in Mexico and 1.9% growth in Central America. It added 17 stores in Mexico and three in Central America.
“In the coming quarters we should see an increase in revenues that will also allow us to leverage expenses and improve results,” Walmex said in a filing, adding it is aiming to spend 41.8 billion pesos in capital spending this year.
Walmex said it was also preparing for a possible change in Mexico’s labor laws, as the government contemplates reducing the country’s legal working week from 48 hours to 40 hours.
Walmex, which operates Walmart and Sam’s Club stores as well as low-cost supermarket chain Bodega Aurrera, is one of Mexico’s largest private employers.
(Reporting by Sarah Morland; Editing by Kylie Madry and Sonali Paul)
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