Latest news with #RaulQuintana
Yahoo
01-05-2025
- Business
- Yahoo
Wal - Mart de Mexico SAB de CV (WMMVF) Q1 2025 Earnings Call Highlights: Strong Revenue Growth ...
Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Wal - Mart de Mexico SAB de CV (WMMVF) reported a 6.5% increase in consolidated total revenue, driven by growth in both Mexico and Central America. The company opened 20 new stores in the first quarter, contributing 1.6% to total sales growth. E-commerce business grew by 17%, with a significant 26% growth from on-demand services. New businesses like Walmart Connect and Byte showed strong performance, with Walmart Connect growing revenue by 25% and Byte reaching 19.8 million active users. The company maintained a strong focus on price leadership and affordability, which helped improve customer satisfaction and trust. Same-store sales growth was modest at 1.4%, with a decline in transactions by 3.2%. The company faced macroeconomic challenges, including political noise and uncertainties, impacting overall performance. Gross margin expansion was limited, with only a 10 basis point increase in Mexico. SGNA expenses grew by 12%, driven by investments in new stores, technology, and labor costs. Inventory levels increased by 15%, indicating potential inefficiencies in inventory management. Warning! GuruFocus has detected 6 Warning Signs with AEIS. Q: Can you elaborate on the impact of macroeconomic conditions on your Q1 2025 performance? A: Ignacio Carri, CEO, explained that Q1 was challenging due to macro conditions, a strong comparative base, and calendar effects like the leap year and Easter shifting to Q2. Despite these challenges, the company saw progress, with a 1.4% same-store sales growth and a focus on maintaining low prices to help customers save money. Q: How did e-commerce perform during the quarter, and what are your future plans for this segment? A: Raul Quintana, Chief Omnichannel Operating Officer, reported a 17% growth in e-commerce, driven by a 26% increase in on-demand services. The company plans to enhance its marketplace and implement a "one hallway" initiative to improve customer experience by year-end. Q: What were the key drivers behind the growth in new businesses? A: Ignacio Carri highlighted that new businesses like Byte and Walmart Connect are enhancing the core business. Byte reached 19.8 million active users, generating 2.3 billion pesos in revenue, while Walmart Connect's revenue grew by 25%. Q: How is the company addressing the slowdown in certain product categories? A: Raul Quintana noted an industry-wide slowdown in categories like video games and TVs. The company is focusing on improving delivery KPIs and expanding its marketplace to counteract these challenges. Q: Can you provide more details on the financial performance and outlook for 2025? A: Paulo Garcia, CFO, stated that total revenues grew by 2.8% in Mexico, with a gross margin expansion of 10 basis points. The company expects a gradual ramp-up in revenues and maintains a sales growth guidance of 6-7% for the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
01-05-2025
- Business
- Yahoo
Wal - Mart de Mexico SAB de CV (WMMVF) Q1 2025 Earnings Call Highlights: Strong Revenue Growth ...
Release Date: April 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Wal - Mart de Mexico SAB de CV (WMMVF) reported a 6.5% increase in consolidated total revenue, driven by growth in both Mexico and Central America. The company opened 20 new stores in the first quarter, contributing 1.6% to total sales growth. E-commerce business grew by 17%, with a significant 26% growth from on-demand services. New businesses like Walmart Connect and Byte showed strong performance, with Walmart Connect growing revenue by 25% and Byte reaching 19.8 million active users. The company maintained a strong focus on price leadership and affordability, which helped improve customer satisfaction and trust. Same-store sales growth was modest at 1.4%, with a decline in transactions by 3.2%. The company faced macroeconomic challenges, including political noise and uncertainties, impacting overall performance. Gross margin expansion was limited, with only a 10 basis point increase in Mexico. SGNA expenses grew by 12%, driven by investments in new stores, technology, and labor costs. Inventory levels increased by 15%, indicating potential inefficiencies in inventory management. Warning! GuruFocus has detected 6 Warning Signs with AEIS. Q: Can you elaborate on the impact of macroeconomic conditions on your Q1 2025 performance? A: Ignacio Carri, CEO, explained that Q1 was challenging due to macro conditions, a strong comparative base, and calendar effects like the leap year and Easter shifting to Q2. Despite these challenges, the company saw progress, with a 1.4% same-store sales growth and a focus on maintaining low prices to help customers save money. Q: How did e-commerce perform during the quarter, and what are your future plans for this segment? A: Raul Quintana, Chief Omnichannel Operating Officer, reported a 17% growth in e-commerce, driven by a 26% increase in on-demand services. The company plans to enhance its marketplace and implement a "one hallway" initiative to improve customer experience by year-end. Q: What were the key drivers behind the growth in new businesses? A: Ignacio Carri highlighted that new businesses like Byte and Walmart Connect are enhancing the core business. Byte reached 19.8 million active users, generating 2.3 billion pesos in revenue, while Walmart Connect's revenue grew by 25%. Q: How is the company addressing the slowdown in certain product categories? A: Raul Quintana noted an industry-wide slowdown in categories like video games and TVs. The company is focusing on improving delivery KPIs and expanding its marketplace to counteract these challenges. Q: Can you provide more details on the financial performance and outlook for 2025? A: Paulo Garcia, CFO, stated that total revenues grew by 2.8% in Mexico, with a gross margin expansion of 10 basis points. The company expects a gradual ramp-up in revenues and maintains a sales growth guidance of 6-7% for the year. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
04-04-2025
- Politics
- Yahoo
St. Pete approves Trop repair plan
ST. PETERSBURG, Fla. (WFLA) — The St. Petersburg City Council voted Thursday to approve a plan to repair the roof of Tropicana Field. The roof was ripped off of the building during Hurricane Milton. Repairs to the roof will cost more than $22 million. Florida charter captain seen arguing with boater in viral video; police investigating Thursday morning, council members were briefed about the repairs before their vote. 'The main issues that we were working through over the last couple of months, really has been an intense collaborative effort with the Tampa Bay Rays and Major League Baseball, to make sure putting back this material was going to be acceptable to the team,' said Raul Quintana, who is the architect for the city of St. Petersburg. Members of the public blasted council members for even considering making repairs to the stadium. 'It's a shameful embarrassment that the mayor and this council have wasted untold amounts of time, money, and attention groveling to a Wall Street billionaire who has never shown anything but contempt for this area,' Jeremy Tolberg said. However, council members said they are bound by the contract with the team to make the repairs. 'This is our contractual obligation that frankly we all inherited,' Council member Brandi Gabbard said. The contract with the team requires the city to maintain the stadium to major league the roof was damaged by Hurricane Milton, many other parts of the facility were also damaged. The executive offices of the team were damaged too. Gabbard said while the contract requires the city to make repairs to the stadium, it does not require the city to make repairs to team offices. 'I want to be very clear on that, I want to see no package come before us that has a complete remodel of those offices,' Gabbard said. Council members approved the plan to rebuild the roof. Preparation for that work is expected to begin in June. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
02-04-2025
- Climate
- Yahoo
Tropicana Field needs more than a new roof. City Council vote is a start
ST. PETERSBURG — Workers had to punch holes in never-before-used drains underneath the baseball diamond so that when it rains, the water inside Tropicana Field has somewhere to go. What Hurricane Milton did to the Trop looks even more apocalyptic than it does from inside. Only a skeleton of the roof remains. Remediation specialists have pulled plastic over field lights, tied tarps over seats and sealed off openings to prevent further damage. Despite waterproofing, water still makes it inside. And an odor, as noted in assessment reports, lingers. For the first time in six months, St. Petersburg city officials invited the news media on a tour of the Trop the day before the City Council considers approving $22.5 million to replace the roof. Pointing to timelines created by contractors, city officials believe the roof and other repairs will be done by opening day 2026 — even counting on shipping and weather delays. 'We should have it done,' said City Architect Raul Quintana. The council is expected to approve the repairs. Under its contract with the Rays, which has been in place since 1995, the city as the Rays' landlord must 'diligently pursue' repairs to make the Trop playable again. The Rays are locked into playing at the Trop through at least 2028. They are spending this season at the New York Yankees' spring training facility, Steinbrenner Field in Tampa. If approved, the city would place an order for the roof. The material is fabricated in Germany, shipped to China for assembly and would be flown to St. Petersburg. The city would put up support netting in June and start receiving shipments in August. The roof is scheduled to be completed by December. The roof replacement includes $100,000 set aside for tariffs imposed on imports. It doesn't include an acoustical layer for the roof, which was highlighted by Major League Baseball as important. Beth Herendeen, the city's special projects manager who has led the planning effort, said the city's intention is to install a new audio system that doesn't need an acoustical liner. It would make sound 'brighter,' and Herendeen said the league was OK with that. Replacing the roof is the first big step. The council is expected vote at least four more times on Trop repairs to pay for metal panels, sports lighting, audio visual equipment and drywall, and flooring and carpets. Herendeen said the next vote would be to approve metal panels in May, followed by the other repairs in June, July and August. The Rays' corporate offices, which had a home in the Trop, are not being repaired. 'They're not included at this point because we're just trying to get ready for baseball,' she said. Those costs are still being totaled, but the complete price to repair the Trop was estimated to be $56 million last November. This is a developing story. Check back for updates.
