Mexico · Delayed Price · Currency is MXN Grupo Comercial Chedraui Earnings Call Transcripts
Fiscal Year 2026
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Consolidated sales declined due to currency effects, but margins and net income improved year-over-year. Strong expense control, inventory management, and e-commerce growth offset weak consumer trends, while expansion of Supercito and investments in distribution drove future growth.
Fiscal Year 2025
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Q4 2025 saw strong same-store sales growth and margin expansion in Mexico, while U.S. operations faced headwinds from immigration enforcement and a government shutdown but improved EBITDA margin through expense control. Aggressive store expansion and e-commerce growth remain key strategies.
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Net income rose 13.3% and EBITDA margin expanded to 8.5% despite soft consumer trends in Mexico and U.S. headwinds. Store expansion and efficiency gains continued, with guidance reaffirmed and margin improvement expected, especially as supply chain costs decline.
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Consolidated sales and EBITDA grew strongly year-over-year, with Mexico outperforming the market and the U.S. segment benefiting from supply chain improvements. Guidance for the year is reiterated, with margin expansion expected to continue despite labor and macro headwinds.
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Consolidated sales rose 14.8% year-over-year, with strong performance in both Mexico and the U.S. despite a challenging consumer environment in Mexico. EBITDA and net income grew, supported by operational efficiencies and the near-completion of the RCDC transition.
Fiscal Year 2024
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Double-digit sales growth and market share gains were achieved in both Mexico and the U.S., with strong store expansion and a new pricing strategy at Smart & Final driving customer growth. Margins were impacted by transition costs and aggressive pricing, but normalization and margin recovery are expected by 2026.
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Consolidated sales grew 11.8% year-over-year, with strong same-store sales in Mexico and mid-single-digit growth at key U.S. banners. Profitability was temporarily impacted by duplicate supply chain costs, but margin recovery is expected in 2025 as the new U.S. distribution center ramps up.
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Consolidated sales and EBITDA grew, with Mexico and US banners outperforming peers. Record margins, strong loyalty program growth, and robust CapEx supported expansion, while management remains bullish on future quarters despite labor and competitive pressures.