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Walmex's sales grow 10.3% YOY in September


According to Market Intelligence, December 2022


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Walmex's sales grow 10.3% YOY in September

Wal-Mart de México SAB de CV (Walmex), the Mexican subsidiary of Wal-Mart Stores Inc., said Oct. 5 that its September sales increased 10.3% year over year to 44.23 billion Mexican pesos, but it warned that natural disasters could significantly impact consumption trends in the future.

The company's total sales in Mexico rose 12% year over year during the month, while its comp store sales increased 10.2%.

Walmex said the earthquakes that struck Mexico in September resulted in the temporary closure of 94 of its units in Mexico City and the states of Mexico, Morelos, Puebla and Oaxaca. These closures impacted same-store sales growth for the month, the company said. Meanwhile, Walmex said the increase in demand for certain supplies and goods for donations had a positive impact of approximately 100 basis points on same-store sales for the month.

The retailer warned that natural disasters could negatively affect consumption trends.

"The recent natural disasters in the country, and others that may occur in the future could have a substantial adverse effect on the main variables that affect our business, such as consumption and other external factors," the retailer said, adding that it is too soon after these most recent earthquakes to quantify their potential impact on those variables or to make predictions.

Walmex's total sales in Central America, on a constant-currency basis, rose 12.8% year over year in September, while its comp store sales were up 8.2%.

The company opened 10 new stores, eight in Mexico and two in Central America, during the period.

Walmex also said Carlos Arroyo has been promoted to COO of Walmart Mexico, effective Nov. 1. Arroyo serves as senior vice president and CEO of Walmart Central America.

Cristian Barrientos has been promoted to replace Arroyo as senior vice president and CEO of Walmart Central America, effective Nov. 1. Barrientos serves as senior vice president of Bodega.

As of Oct. 5, US$1 was equivalent to 18.29 Mexican pesos.