Oct 28 (Reuters) - Walmart's Mexico and Central America
unit reported on Tuesday a 9% drop in its
third-quarter net profit, according to a filing with the Mexican
stock exchange, landing below analysts' forecasts.
Net profit for Mexico' largest retailer, which operates
Walmart, Sam's Club and Bodega Aurrera stores across six
countries, was 11.76 billion Mexican pesos ($641.41 million) in
the three months through September, below the 13.7-billion-peso
forecast of analysts polled by LSEG.
Revenues for Walmex, as the company is known, meanwhile rose
5% year-on-year to reach 241.52 billion pesos - slightly below
analysts' estimate of 244.8 billion pesos.
The quarterly results are Walmex's first under new chief
executive Cristian Barrientos, who was named acting CEO on
August 1 and confirmed as CEO and chair on October 7, replacing
former CEO Ignacio Caride, who stepped down after fewer than two
years in the role.
Barrientos in a presentation on Tuesday celebrated the
company's "solid business fundamentals" while noting a volatile
economic backdrop.
"Given the ongoing uncertainty around tariffs, the coming
USMCA renegotiation, and volatile consumption, we are encouraged
by our team's ability to execute the priorities we have
defined," Barrientos said, highlighting the company's "three
non-negotiable pillars" of price leadership, product
availability, and the acceleration of eCommerce.
($1 = 18.3147 Mexican pesos at end-September)