75.2 F
Mérida
Wednesday, January 26, 2022
###

Shoppers stocking up for shutdown adds billions to Walmart profits

Latest headlines

Another bus catches fire in Mérida, raising safety concerns

A short circuit in the electrical systems of a passenger bus has been blamed for yet another fire on Mérida’s roads. 

Horse collapses from exhaustion in ‘Magical Town’ of Izamal

The collapse of a horse pulling a tourist carriage in Izamal has reignited the debate surrounding animal welfare in Yucatán. 

Journalists under siege in Mexico, demand action from authorities

Journalists across the country joined coordinated demonstrations to protest the murder of their colleagues.

Moving to Mérida has changed my relationship with color

Photo: File I’ve always had a strange relationship with color. It’s not a thing our family embraced when...
Yucatán Magazine
Sign up to get our top headlines delivered to your inbox twice a week.
Coronavirus-related panic buying helped buoy Walmart’s Q1 2020 profits. Photo: Courtesy

Panic buying connected to the coronavirus lockdown helped bring Walmart greatly improved first-quarter profits.

Walmart de Mexico, the biggest retailer in Mexico, reported a net profit of 10 billion pesos / US$420 million, up from 8.7 billion pesos a year ago.

The results were attributed to high demand for basic goods in an emergency period that was not part of the “ordinary course” of business, and led to 20,500 new hires.

Walmex, as it is also known, reported revenue of 171.3 billion pesos in the period, up from 151.7 billion pesos a year ago.

Mexico registered its first cases of COVID-19 at the end of February, triggering a spate of panic buying nationwide.

The Mexican government has since urged people to stay at home, but Walmart’s delivery app keeps the store in play. Walmart de Mexico said e-commerce sales grew 68% in the quarter as daily orders doubled, and the retailer added more than 1,700 workers to handle the demand.

The chain has also taken measures to protect customers, spraying shopping carts, setting aside special hours for shoppers over 60, and releasing their volunteer baggers.

Even so, e-commerce now represents 1.6% of total sales in Mexico, down from 2% in the fourth quarter last year, Reuters reported.

Walmart de Mexico opened nine stores in the quarter, bringing the total to 3,416 locations and helping boost the net result.

In Central America, Walmart grew everywhere except Honduras, where the government shut down the stores.

With information from Reuters

- Advertisement -

Subscribe Now!

More articles

10 arrested in Valladolid after illegal cockfights are busted up

Ten people, including at least one minor, were arrested in Valladolid for their involvement in organizing illegal cockfights. 

Rails for the Mayan Train are being laid near Chichén Itzá

Rails are now being laid near Chichén Itzá for the first tests of the Mayan Train.

The story of the “many Méridas”

Many people living in Mérida, Yucatán are vaguely aware that the city shares its name with other communities around the world. But the specifics surrounding how and why Yucatán’s capital got its name are unknown to most. 

A leak in a Tabasco Pemex oil pipeline causes disastrous fire

A massive fire sparked by a leaking oil duct has created massive environmental damage in Huimanguillo, Tabasco. 

Untrained tour guides compete for tourist dollars in Chichén Itzá

Arguments between tour guides at Chichén Itzá have on rare occasions even resulted in fights and physical violence. Photo: Carlos Rosado...

Joya de Cerén — The Pompeii of the Americas

The volcano which stood less than one mile from Joya de Cerén, sent huge amounts of debris flying through the air. It ultimately buried the village under four to eight meters (13 to 26 feet) of ash and rock. 

A stunning 5,425 new COVID cases in a week

Residents make use of a hand-washing station installed in the Centro. Photo: Artur Widak / NurPhoto via Getty Images

Booster shots arrive for Mérida residents between 40-59

Booster shots for Mérida residents in their 40s and 50s arrived Friday. Photo: Courtesy A military plane with...

Mexico celebrates International Mariachi Day

Mariachis in Mexico and around the world celebrate International Mariachi Day observed every Jan 21. 

Marines to take over security at Mérida and Cancún airports

Mexico's Marines will be taking control of seven airports across the country, with  Mérida and Cancún among them.