Wal-Mart de Mexico SAB de CV

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Walmex reiterated its business transformation through pricing strategies, technology investment, and service portfolio. The strategy is focused on 3 pillars: (1) win at a discount, (2) be omnichannel leaders and (3) be the main ecosystem. Although st...

Beat our expectation and the street by a big margin. WHA posted a 4Q22 net profit of Bt2,842m. WHA will pay a DPS for 2H22 of Bt0.1003.

Positive Same Store Sales performance, supported by organic growth and Omnichannel development. Inflation pressures profitability. Mexico's EBITDA margin decrease was partially offset by margin expansions in CA. Incorporating quarter's figures and 20...

Walmex reported in line with our estimates, although the increase in SSS in Mexico and CA positively surprised. On the other hand, sales were limited by an adverse FX effect in Central America (total revenue: +6.8% y/y excluding this impact). EBITDA ...

As we expected, panic buying in 1Q20 represented a difficult comparable base for Walmex. In contrast, EBITDA reached MXN 19.475 billion (+2.2% y/y) and the corresponding margin expanded 30 bps to 11.4%, despite lower revenues in Central America, pric...

Walmex reported in line with expectations. At the net level, we anticipate earnings to grow 30.2% to MXN 43.528 billion, explained by a 26% lower CFC, due to lower financial cost and tax payments, as effective tax rate normalizes (23.6%e vs. 32.4% in...