Walmex Q2 profit slips as softer consumption prompts outlook cut

• Walmex said it also expects its 2026 EBITDA margin to be "slighly below" last year's 10.7% margin.
• Same-store sales grew 1.8% in Mexico and 2.4% in Central America. Still, overall performance was impacted by a deflationary environment and cautious spending in Costa Rica.

($1 = 17.4986 pesos at end-June)

• "Based on the consumer trends we have observed during the first half of the year, we are revising our outlook for the full year," the company said.
• The company now expects full-year sales growth of 3.5%-4.5% in constant currency.
• Walmex did not detail how the forecast compares to its prior outlook. The retailer last year posted 4.6% revenue growth, below guidance.
• Softer consumption during the World Cup and weak traffic at Mexican discount stores drove the quarterly profit decline.
• Rising expenses from investments in new stores and e-commerce also weighed on results.
• "The slower-than-expected recovery in consumer spending is clearly impacting our revenue performance," Walmex said.

MEXICO CITY, July 22 (Reuters) - Walmart's Mexico and Central America unit Walmex reported on Wednesday a light drop in second-quarter net profit as the company cut its full-year sales outlook due to weaker-than-expected consumer spending.

• Net profit hit 11.15 billion pesos ($637.19 million) for the April-June period, modestly above the 10.99 billion pesos predicted by analysts polled by LSEG.