Mexico City. The retailer Walmart de México reported that its net sales amounted to 228,427 million pesos in the third quarter of 2024, which represented a growth of 8 percent compared to the same period in 2023.
The omnichannel experience through simplification, digitalization, and automation is paving the way toward improving business efficiency, highlighted Ignacio Caride, executive president and general director of Walmart de México y el Caribe.
However, the company revealed, for its part, that its profits fell 5.1 percent annually in the reference period, due to the growth of both the costs of its higher sales and general expenses.
The retailer’s net profit was 12,934 million pesos, after during the third quarter of last year it amounted to 13,632 million pesos. The data for July-September of this year was below the average forecast of 13,532 million pesos provided by analysts.
During the presentation of its financial results for the third quarter of 2024, the station described that the drop in profits was the result of being impacted by a release of fiscal provisions in Central America during last year, an effect that had not occurred since the third quarter of 2020. , in the middle of the covid-19 pandemic.
During the third quarter, same-store sales grew 4.5 percent, driven mainly by a 5.5 percent increase in ticket sales, while traffic, with the more moderate consumption environment, presented a slight reduction of one percent.
Walmart’s own brands continue to develop and become increasingly relevant, they said.
It should be noted that in their health business, this quarter they sold more than 600 thousand health memberships, more than double the amount achieved in the same quarter last year and reached more than 1.6 million memberships in the year.
“We are very proud of how this vertical is evolving, as it is certainly aligned with our purpose of helping people save money and live better through easy, low-cost access to health services,” said Caride.
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