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MarketScreener Homepage  >  Equities  >  Mexican Stock Exchange  >  Wal-Mart de México, S.A.B. de C.V.    WALMEX *   MX01WA000038

WAL-MART DE MÉXICO, S.A.B. DE C.V.

(WALMEX *)
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Wal Mart de Mexico B de C : Mart de Mexico 3Q Net Profit Slips

10/22/2020 | 04:48pm EST

By Anthony Harrup

MEXICO CITY -- Retailer Wal-Mart de Mexico SAB saw a slight decline in third-quarter net profit as higher taxes and expenses offset an increase in sales.

Walmex, as the unit of Arkansas-based Walmart Inc. is known, made a net profit of 9.17 billion Mexican pesos ($437 million) for the July-September period, down 0.9% from the year-earlier quarter.

Sales rose 6.7% to 165.34 billion pesos, with same-store sales up 5.4% in Mexico and down 6% in Central America. Operating profit rose 3% to 13.78 billion pesos, while taxes increased 13% and general expenses were up 9.4%.

As people continued to spend more time at home because of the coronavirus pandemic, Walmex saw strong sales of food and articles for the home, chief executive Guilherme Loureiro said in a webcast presentation of the results.

Tablet and computer sales were strong since schools remain closed except for online and televised lessons, although overall the back-to-school season was weaker than usual with soft demand for supplies and uniforms. Clothing sales have been particularly hard hit by the pandemic, he added.

Online sales tripled from a year earlier and accounted for 3.8% of total sales in Mexico during the quarter, he said.

Walmex shares closed up 2.2% Thursday on the Mexican stock exchange ahead of the report.

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

10-22-20 1848ET

Stocks mentioned in the article
ChangeLast1st jan.
WAL-MART DE MÉXICO, S.A.B. DE C.V. -1.06% 56.77 End-of-day quote.4.84%
WALMART INC. 0.46% 150.93 Delayed Quote.27.00%
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More news
Financials
Sales 2020 705 B 35 128 M 35 128 M
Net income 2020 35 797 M 1 783 M 1 783 M
Net Debt 2020 20 733 M 1 033 M 1 033 M
P/E ratio 2020 28,8x
Yield 2020 3,19%
Capitalization 991 B 49 348 M 49 380 M
EV / Sales 2020 1,44x
EV / Sales 2021 1,36x
Nbr of Employees 229 428
Free-Float 29,5%
Chart WAL-MART DE MÉXICO, S.A.B. DE C.V.
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Wal-Mart de México, S.A.B. de C.V. Technical Analysis Chart | WALMEX * | MX01WA000038 | MarketScreener
Technical analysis trends WAL-MART DE MÉXICO, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 61,38 MXN
Last Close Price 56,77 MXN
Spread / Highest target 23,3%
Spread / Average Target 8,11%
Spread / Lowest Target -13,7%
EPS Revisions
Managers
NameTitle
Guilherme Loureiro President, Chief Executive Officer & Director
Enrique Ostalé Cambiaso Executive Chairman
Milton Brandt Chief Financial Officer
Alonso Yanez Chief Information Officer
Blanca Avelina Treviño de Vega Independent Director
Sector and Competitors