Walmex reports Q3 revenue growth driven by e-commerce and Central America

Walmart de México y Centroamérica (Walmex) reported third-quarter consolidated total revenue of MXN 248.8 billion, representing a 3.0% increase year on year. Growth was supported by a 6.0% rise in Central American markets and a 3.1% increase in Mexico.

In Mexico, e-commerce net sales grew by 15.8%, bolstered by a 20.8% expansion in store-fulfilled sales. The company also noted increased penetration of private-label brands. While gross margins remained flat at 24.7%, the retailer continues to invest in narrowing price gaps.

For the first nine months of the fiscal year, Walmex reported total revenues of MXN 744.8 billion and a net profit of MXN 34.7 billion. Management expressed a focus on executing strategies to achieve more consistent performance across the business.