Q2 2026 Wal Mart de Mexico SAB de CV Earnings Call (Pre-recorded) Transcript
Key Points
- Total revenues grew 1.9% on a reported basis and 3.2% in constant currency, with Mexico reporting a 3.1% total revenue growth.
- eCommerce net sales grew 16.2%, driven by the resilient On-Demand business and improved delivery promise.
- Walmart Connect and Bait businesses showed strong growth, with revenues increasing by 31% and 40% year-over-year, respectively.
- Sam's Club experienced double-digit growth in member acquisition and improved renewal rates, reinforcing the strength of its value proposition.
- The company made significant progress in reducing seller onboarding time by more than half, enhancing the Marketplace platform's capabilities.
- Consumer spending remains soft, impacting top-line performance and resulting in slower-than-expected recovery in consumer demand.
- Costa Rica's performance continues to be affected by national deflation, with customers trading down and purchasing smaller baskets.
- Marketplace GMV declined 6.6% year-over-year due to seller-related issues, despite ongoing recovery efforts.
- SG&A expenses increased by 20 basis points year-over-year as a percentage of sales, impacting profitability.
- The company revised its full-year sales growth outlook to 3.5% to 4.5% in constant currency, reflecting a slower consumer recovery than anticipated.
Good afternoon. I'm Salvador Villasenor, in charge of Investor Relations at Walmex. Thank you for joining us again to review the results for the second quarter of 2026. Today with me is Cristian Barrientos Pozo, our President and Chief Executive Officer of Wal-Mart de Mexico y Centro America; Javier Andrade, our Chief Merchandising Officer; and Paulo Garcia, our Chief Financial Officer.
The date of this webcast is July 22. 2026. Today's webcast is being recorded and will be available at www.walmex.mx.
Before we start, let me remind you that the content of this webcast is property of Wal-Mart de Mexico S.A.B. de C.V. and is intended for the use of the company's shareholders and the investment community. It should not be reproduced in any way.
This webcast may contain certain references concerning Wal-Mart de Mexico S.A.B. de C.V.'s future performance that should be considered as good faith estimates made by the company. These references
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