
Walmart's Mexico unit posts 10% dip in Q2 profit even as sales rise
Revnues for the quarter were up 8% from the same quarter in 2024 to reach 246.25 billion pesos.
($1 = 18.7654 Mexican pesos at end-June)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Independent
an hour ago
- The Independent
More than 600,000 Frigidaire mini fridges recalled after fire hazard causes injuries and $700K in property damages
More than 600,000 Frigidaire mini fridges have been recalled due to a fire hazard that has caused injuries and resulted in over $700,000 in property damage. The mini fridges were recalled Thursday. The fridge's internal electrical components can short circuit, the Consumer Product Safety Commission says, causing the surrounding plastic housing to catch fire. The commission said in a recent notice there have been at least 26 reports of the mini fridges 'smoking, sparking, burning, melting, overheating and catching fire.' Two people reported smoke inhalation and property damages totaled more than $700,000. The recalled fridges were sold at stores such as Walmart and online from Walmart's website and Amazon from January 2020 to December 2023. The following model numbers are included in the recall: EFMIS129, EFMIS137, EFMIS149 and EFMIS175. The recall notice said consumers should immediately stop using the recalled mini fridges and dispose of them 'in accordance with local and state regulations.' Affected consumers can receive a refund for the recalled mini fridges which sold for between $36 and $40. The Independent has reached out to Curtis International Ltd., the importer of the recalled mini fridges, for comment. The mini fridges were part of a flurry of recalls the commission issued on Thursday. HydroTech 5/8-inch Expandable Burst-Proof Hoses were recalled after at least 29 injuries from the hose bursting were reported. Pura 4 Smart Home Fragrance Diffusers with detachable covers were also recalled due to an ingestion hazard for kids, and a rechargeable electric bug zapper racket was recalled due to a shock hazard. There were also recalls issued for electric scooters and bikes. One of these notices, for FENGQS F7 Pro E-bikes, warned the product's lithium-ion battery can overheat and catch fire, posing a risk of serious injury or death.


Daily Mail
4 hours ago
- Daily Mail
Popular grocery chain continues USA takeover with 30 new stores as major competitor shuts locations... full list
Trader Joe's is continuing its aggressive expansion. It is adding another 30 stores — including two that just opened in Westminster, Colorado, and Northridge, California. New locations are also on the way in Arizona, California, Connecticut, Washington DC, Florida, Georgia, Louisiana, Massachusetts, Missouri, New Jersey, New York, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Utah, and Virginia. These are on top other planned openings, including at least a dozen new stores across 10 states this year. One recent opening puzzled locals because it was less than 100 yards from an existing Trader Joe's. The grocer, founded in 1967 and famous for its cult‑favorite snacks and quirky atmosphere, already has more than 600 stores across 43 states. It is in an expansion battle with rival Aldi, America's fastest-growing grocery chain. German‑owned Aldi — founded in 1946 — operates more than 2,500 locations across 40 US states and plans to open 225 new stores this year alone, on top of the 105 it opened last year. Growth for Trader Joe's and Aldi comes as rival Kroger shutters 60 locations nationwide. It still dwarfs Trader Joe's, and has 3,000 stores and is pouring $45 million into opening 30 new stores and upgrading others in Ohio, Indiana, and Kentucky. Trader Joe's new Northridge store kicked off its grand opening with a July 21 ribbon‑cutting ceremony, fan‑favorite snack samples, and free reusable tote bags. The location features murals by California State University, Northridge students, part of the chain's effort to make each store a true neighborhood fixture. In Westminster, Mayor Nancy McNally hailed the city's first Trader Joe's, which opens today. 'People are just very excited about being able to go to Trader Joe's,' she said. Kroger is planning to open 30 new stores in the next 18 months, and upgrade 16 stores in Ohio, Indiana and Kentucky. The $45 million investment in this plan will also include a new fuel center at a store in Springfield. Besides openings, Kroger has opted to compete with Trader Joe's by giving its customers access to its Weekly Digital Deals through in-store flyers. In the meantime, Trader Joe's will continue to lure in customers by continuing to surprise customers with viral bags, and introduce desserts like the Dubai-style pistachio dark chocolate bar. New Trader Joe's locations Arizona N. Bullard Ave. & McDowell Road, Goodyear, 85395 California 2330 Foothill Blvd., La Verne, 91750 31545 Yucaipa Blvd., Yucaipa, 92399 Connecticut 801 Bridgeport Ave., Shelton, 06484 District of Columbia 5335 Wisconsin Ave. NW, Washington, 20015 Florida 1511 Cornerstone Blvd., Daytona Beach, 32117 Georgia 258 City Circle, Peachtree City, 30269 Louisiana 2428 Napoleon Ave., New Orleans, 70115 2501 Tulane Ave., New Orleans, 70119 Massachusetts 1999 Centre St., Boston, 02132 1165 Needham St., Newton, 02464 Missouri 201 N. Stadium Blvd., Columbia, 65203 New Jersey 675 US-1, Iselin, 08830 New York 6400 Amboy Road, Staten Island, 10309 388 Feura Bush Road, Glenmont, 12077 302 NY-25A Miller Place, Miller Place, 11764 Oklahoma 1451 E Hillside Drive, Broken Arrow, 74012 6920 Northwest Expressway, Oklahoma City, 73132 Oregon 2083 NE Burnside Road, Gresham, 97030 Pennsylvania 125 West Lincoln Highway, Exton, 73132 550 Lancaster Ave., Berwyn, 19312 South Carolina 115 SayeBrook Parkway, Myrtle Beach, 29588 Texas 12812 Shops Parkway, Bee Cave, 78738 8101 Eldorado Parkway, McKinney, 75070 11745 I-10 W., San Antonio, 78230 Utah 1895 E. Rodeo Walk Drive, Holladay,84117 4060 Riverdale Road, Suite B, Riverdale, 84405 Virginia 220 Constitution Drive, Virginia Beach, 23462


Reuters
5 hours ago
- Reuters
Exclusive: Mexico's antitrust watchdog accuses banks of joint price fixing
MEXICO CITY, July 25 (Reuters) - Mexico's antitrust watchdog COFECE has found that 21 banks and financial institutions operating in the country are likely responsible for fixing fees related to deferred credit card payments, according to a document produced by the government agency that was seen by Reuters. The 649-page document outlining the findings and listing the institutions and individuals allegedly involved includes the Mexican subsidiaries of HSBC (HSBA.L), opens new tab, Santander ( opens new tab and Scotiabank ( opens new tab. The document indicates that, based on preliminary findings, there is sufficient evidence to presume the parties may have engaged in anti-competitive conduct. COFECE began the investigation in 2022, saying at the time it was looking into suspected monopolistic practices, including price-fixing and manipulation in the market for deferred credit card payments, by which the cost of a purchase can be spread over several months. The antitrust authority alleges the institutions met regularly to set surcharges for merchants, which were then formalized in regulations and collectively enforced, while also excluding some merchants from the market. The banks listed in the document are being notified of the findings, the document says, marking the start of a trial-like phase in which the parties can present evidence and arguments in their defense before the watchdog's plenary issues a final resolution. It is unclear what the penalty would be if the allegations are upheld. By law, it can impose fines as high as 10% of a company's annual Mexican earnings. COFECE's remit is limited to issuing fines. It does not have the power to prosecute, but can file class-action lawsuits and submit reports to prosecutors who can initiate legal proceedings. Some of the other institutions cited are: Red Amigo DAL; Banco Mercantil del Norte; Banco Nacional del Ejercito, Fuerza Aerea y Armada; Servicios Financieros Soriana; Banco Regional; Banco INVEX, and Banco Azteca. Others include Banca Afirme; Banca Mifel; Tarjetas del Futuro; Liverpool PC; Banco del Bajio ( opens new tab; Banco Inbursa ( opens new tab; Klar Technologies; Crediclub; Oplay Digital Services; Caja Morelia Valladolid and Banco Ahorro Famsa. COFECE and the banks did not immediately respond to requests for comment. COFECE has previously targeted other major industries in high-profile actions. In August 2021, the agency fined five pharmaceutical distributors and 21 individuals roughly 903 million pesos ($48.65 million) for a decade of fixing prices and restricting the supply of essential medicines between 2006 and 2016. In October 2022, it imposed over 2.4 billion pesos in fines on more than 50 liquefied petroleum gas distributors across several states, finding evidence of coordinated price manipulation and market division. ($1 = 18.5605 Mexican pesos)