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Chedraui Lifts Q3 Profit on Mexico Gains as U.S. Sales Falter

Currency headwinds plus stricter U.S. immigration curbed traffic, with efficiencies and e‑commerce partnerships helping to hold margins.

Overview

  • Chedraui reported consolidated Q3 2025 sales of 71,768 million pesos, down 0.2% year over year, with EBITDA up 3.2% to 6,129 million and net income up 13.3% to 1,646 million.
  • Mexico delivered 5.2% sales growth to 34,162 million pesos on 2.8% same‑store gains and expansion, outpacing ANTAD for the 21st consecutive quarter.
  • Chedraui USA sales fell 4.6% in pesos and 0.9% in dollars, with management citing peso appreciation and stricter immigration enforcement that reduced Hispanic customer traffic; comparable sales in dollars declined 1.9%.
  • Profitability benefited from inventory and promotion discipline and the California distribution consolidation, lifting the consolidated EBITDA margin 28 basis points to 8.5%, as the company reiterated solid‑margin expectations and geographic sales targets for the rest of the year.
  • Three stores in Veracruz remain temporarily closed after severe flooding, with reopening work underway and Fundación Chedraui providing relief; the company ended the quarter with 710 stores in Mexico and 384 in the United States.