By Anthony Harrup
MEXICO CITY--Wal-Mart de Mexico posted a decline in fourth-quarter net profit on higher taxes, while sales rose moderately amid lower customer traffic at stores in Mexico and Central America.
Walmex, as the unit of Arkansas-based Walmart is known, reported net profit of 14.6 billion Mexican pesos ($848 million) for the October-December period or MXN0.844 a share, down 3.9% from the year-earlier quarter. Profit was affected by a higher tax rate during the quarter, Walmex said.
Fourth-quarter revenue rose 3%, to MXN282.85 billion, with a 4.9% increase in Mexico and 2.4% in Central America.
Same-store sales, excluding stores opened in the past year, rose 3.3% in Mexico with a 3.9% higher average ticket and a 0.5% decline in customer traffic. In Central America, same-store sales rose 0.6% with 0.8% fewer customers spending on average 1.5% more per visit.
"We are operating in a macro environment that remains complex, with pressure on consumption and costs," Walmex Chief Executive Cristian Barrientos Pozo said. "Looking ahead, economic growth should pick up and we are confident in the path forward."
General expenses rose 3% in the quarter, in line with sales growth, with operating efficiencies compensating for investments in growth. Earnings before interest, taxes, depreciation and amortization rose 8.1% from the year-earlier quarter to MXN29.6 billion.
Walmex opened 102 stores in Mexico during the fourth quarter to end the year with 3,316. The company added 13 stores in central America to 949.
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
02-18-26 1718ET
