MEXICO · RETAIL RESULTS
Key Facts
- What is happening Chedraui, a Mexican supermarket group that owns the US chains El Super and Fiesta Mart, said fewer shoppers came to its US stores in the third quarter, with net profit of about US$87 million.
- Why it matters The company blames stricter immigration policy, lower SNAP food-aid payments and high gasoline prices for fewer US transactions, but it gives no dollar cost for any of the three.
- The numbers Net profit was 1.63 billion pesos (about US$87 million), the EBITDA margin, a cash-earnings measure, rose 0.14 points to 8.7%, and the stronger peso cut results by 6.2%.
- Who is who Antonio Chedraui is chief executive; El Super and Fiesta Mart serve Hispanic shoppers; SNAP is the federal food-aid programme for low-income households; ANTAD is Mexico’s retail trade association.
- What to watch The results call on Wednesday, 28 October at 11:00 a.m. New York time, and whether US same-store sales steady in the second half as the company hoped in January.
- Power Index Mexico ranks 2nd of 14 in The Rio Times Latin America Power Index, with 71.4 points (October 2026 edition).
- What it means for you US readers get a company-level view of weaker traffic at Hispanic-focused grocers, and investors in Mexican retail should note that a strong peso shrinks the peso value of US earnings.
Chedraui earned about US$87 million in the quarter, but says fewer shoppers came to its US stores. The company blames immigration policy and cuts to food aid.
Chedraui (company profile), a Mexican supermarket group, said fewer shoppers visited its US stores from July to September. The company blamed stricter immigration policy, lower SNAP payments and high gasoline prices.
SNAP is the Supplemental Nutrition Assistance Program, the federal food-aid scheme for low-income households. Chedraui reported net profit of 1.63 billion pesos (about US$87 million), converted at 18.67 per US$1 on 28 October 2026.
What Chedraui Reported
Chedraui released its third-quarter results late on Tuesday, 27 October. The EBITDA margin, meaning earnings before interest, tax, depreciation and amortisation as a share of sales, rose 0.14 points to 8.7%.
The gross margin rose 0.53 points, which the company credited to savings at its Rancho Cucamonga distribution centre in California. Selling space across the group grew 3.4% over twelve months.
Net cash, meaning more cash than debt, equalled 0.13 times EBITDA at the end of September. A year earlier the figure was 0.03 times.
Why US Stores Drew Fewer Shoppers
Chief executive Antonio Chedraui said same-store sales in the United States stayed soft. Same-store sales compare stores that have been open for a year or more.
He said transactions fell because of stricter immigration policy, lower distribution of SNAP benefits and high gasoline prices. The release does not say how much each cause cost.
The US EBITDA margin rose 0.18 points to 7.5%, helped by savings in buying and distribution. Chedraui’s US stores include El Super and Fiesta Mart, grocery chains that serve Hispanic shoppers.
The Mexican peso strengthened against the dollar, and the company put the effect on its results at 6.2%. A stronger peso lowers the peso value of dollar earnings from the United States.
Mexico Tracks the Market
In Mexico, same-store sales were in line with ANTAD, the country’s retail trade association for self-service stores. The company said the south-east, its most important region, suffered from slower public and private investment and less tourism.
Chedraui’s Mexican EBITDA margin was 9.8%, against 9.9% a year earlier. The chief executive credited cost containment for limiting the fall to 0.05 points, and Mexican selling space grew 4.7%.
In the quarter Chedraui opened 27 stores in Mexico, 22 of them small Supercito neighbourhood shops. It also opened one El Super and one Fiesta Mart in the United States.
What It Means for US Readers
El Super and Fiesta Mart serve Hispanic households, so the company’s comments give a store-level read on that spending. One weak quarter at one company does not by itself prove a nationwide fall in Hispanic spending.
In January the company guided for US same-store sales growth of 1% to 2% in dollars for 2026. It said stricter immigration policy would weigh at least through the first half, with more stability expected in the second.
Its Mexico City ticker is CHDRAUI B, and it keeps its accounts in pesos. A strong peso lowers the reported value of its US earnings.
The Rio Times has covered Mexico’s record exports to the US and the state of Mexico-US relations. Figures on returns from the US are in a report on Mexican deportation numbers, and the Mexico section gathers all coverage.
What Is Not Known
The full quarterly report could not be opened, so group sales, peso EBITDA and the US sales figure are unconfirmed. The change in net profit from a year earlier is also unconfirmed.
Net profit, margins, causes and store openings come from the company’s own release. The company gave no dollar cost for the three causes, and no earnings-per-share figure or analyst forecast was available.
Nothing here comes from the results call on Wednesday, 28 October. The release does not mention changes to 2026 guidance.
What Comes Next
Chedraui holds its results call on Wednesday, 28 October at 11:00 a.m. New York time (9:00 a.m. in Mexico City). The call is the first chance to hear whether the company changes its 2026 targets.
Fourth-quarter results will show whether the hoped-for stabilisation in US stores arrives. A rebound would also depend on food-aid payments and fuel prices, which the company named as pressures.
Frequently Asked Questions
How much profit did Chedraui make?
Net profit was 1.63 billion pesos (about US$87 million). The change from a year earlier is not confirmed here.
Why did fewer shoppers visit Chedraui’s US stores?
The company said transactions fell. It cited stricter immigration policy, lower SNAP payments and high gasoline prices.
What are El Super and Fiesta Mart?
They are US supermarket chains owned by Chedraui that serve Hispanic shoppers. Chedraui reports them in its US division.
What is SNAP?
SNAP is the Supplemental Nutrition Assistance Program, the federal food-aid scheme for low-income households. It pays benefits that people spend in grocery stores.
Why does the peso matter for Chedraui?
The company put the effect of the stronger peso on its results at 6.2%. Dollar earnings convert into fewer pesos when the peso strengthens.
Sources: Grupo Comercial Chedraui, third-quarter 2026 results release, 27 October; Grupo Comercial Chedraui, 2026 guidance filing with the Mexican Stock Exchange, 12 January; Mexican Stock Exchange, Chedraui issuer profile; exchange rate from open.er-api.com, 28 October (all accessed 28 October 2026).
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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