MEXICO · COMPANY RESULTS
Key Facts
- The country Mexico is Latin America’s second-largest economy and the United States’ biggest trading partner.
- The company La Comer is an upscale supermarket chain with 96 stores in Mexico, and its shares trade on the Mexican stock exchange.
- What happened La Comer profit fell 20.8% in the third quarter to 508 million pesos (about US$27.3 million).
- Sales Net sales rose 4.6% to 12,361 million pesos (about US$663.4 million), while sales at stores open over a year grew only 1.0%.
- 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 Growth in Mexico’s premium grocery market is slowing, and new stores are costing more than they earn so far.
La Comer profit fell 20.8% in the third quarter, the Mexican supermarket group said in its results release on Tuesday 20 October. Net income came to 508 million pesos (about US$27.3 million), down from 641 million pesos (about US$34.4 million) a year earlier.
For US investors watching Mexico’s consumer, La Comer profit shows a grocer adding stores faster than it adds earnings. Sales grew, but costs for staff, advertising and new openings grew much faster.
How La Comer Profit Fell in the Quarter
Net sales for the three months to 30 September rose 4.6% to 12,361 million pesos (about US$663.4 million), according to the company’s release. Gross profit, which is sales minus the cost of the goods sold, rose 5.0% to 3,683 million pesos (about US$197.7 million).
Operating expenses jumped 11.0% to 2,960 million pesos (about US$158.9 million), and they now take 23.9% of sales against 22.6% a year earlier. That gap is the main reason La Comer profit fell while sales kept growing.
Operating profit dropped 13.8% to 723 million pesos (about US$38.8 million), and the operating margin slipped to 5.9% from 7.1%. Net income fell 20.8%, as financing costs rose to 49 million pesos (about US$2.6 million) from 22 million pesos (about US$1.2 million).
Why Costs Rose Faster Than Sales
The company names three cost lines with relevant increases: salaries, advertising and pre-opening costs for new stores. It says the increases are partly a result of the opening of new stores.
Two stores opened in the quarter, a La Comer in Cuernavaca, south of Mexico City, and a Fresko in Monterrey. The chain now has 96 stores, up 6.7% from 90 a year earlier, and its sales area grew 8.8% to 440,732 square metres.
EBITDA, a measure of operating cash earnings before interest, tax and depreciation, fell 9.5% to 1,132 million pesos (about US$60.8 million). Its margin narrowed to 9.2% from 10.6%, the company said.
What Same-Store Sales Say About Shoppers
Same-store sales, which compare only shops open for more than a year, rose just 1.0%. A year earlier the same measure grew 6.2%, so growth at existing stores has slowed sharply.
The company says that result still beat the figure reported by ANTAD, Mexico’s national association of supermarkets and department stores. It adds that perishable fresh foods led the gains, with groceries also performing well.
Customers numbered 23.5 million in the quarter, up 2.0%, and the City Market premium banner posted the strongest growth among formats. Stores in the Mexico City area did best by region, followed by the north, and the online service La Comer en tu Casa gained share.
The First Nine Months of 2026
For the nine months to 30 September, sales rose 6.2% to 37,300 million pesos (about US$2.00 billion), with same-store sales up 3.0%. La Comer profit for the nine months fell 11.8% to 1,921 million pesos (about US$103.1 million) from 2,179 million pesos (about US$117.0 million).
EBITDA for the nine months slipped 5.4% to 3,851 million pesos (about US$206.7 million), and its margin fell to 10.3% from 11.6%. The company again blamed higher spending on salaries, advertising and pre-opening costs.
Cash stood at 976 million pesos (about US$52.4 million) on 30 September, a drop of 1,987 million pesos (about US$106.6 million) from December 2025. The company says the money went mainly into opening new stores.
How This Follows the Second Quarter
The pattern matches the second-quarter report, when La Comer profit fell 16.4% to 671 million pesos (about US$36 million). Sales grew in both quarters, but profit shrank each time.
La Comer sells fresh and premium food to higher-income Mexican households, a group that spends steadily but is sensitive to prices. Its stores come in four banners: La Comer, Fresko, City Market and the small Sumesa format.
What It Means for US Readers
La Comer trades only in Mexico, so US investors reach it through Mexican brokers or funds that hold Mexican retail stocks. La Comer profit gives them a read on the Mexican shopper, whose spending also drives sales for US brands sold in Mexican supermarkets.
La Comer profit has now fallen in two straight quarters while sales kept growing, which is the pattern investors will watch in the next report. At about 18.63 pesos to the US dollar on 22 October 2026, the quarter’s profit equals about US$27 million.
What Is Not Known
The company has not published a forecast for the fourth quarter or for next year. It has also not said how many stores it plans to open in 2027.
The release does not say how much of the cost increase is a one-time cost of opening stores and how much will stay. Investors will see the next test when the company reports full-year results in 2027.
More: Mexico news in English, every day from The Rio Times.
Frequently Asked Questions
How much did La Comer profit fall in the third quarter?
Net income fell 20.8% to 508 million pesos (about US$27.3 million) from 641 million pesos (about US$34.4 million) a year earlier. The company published the figures on 20 October 2026.
Why did La Comer profit fall if sales rose?
Operating expenses rose 11.0%, more than twice as fast as sales growth of 4.6%. The company points to salaries, advertising and the cost of opening new stores.
What does La Comer sell and where?
La Comer is a Mexican supermarket group, and La Comer profit comes from its focus on groceries, fresh food and pharmacy. It runs 96 stores under the La Comer, Fresko, City Market and Sumesa banners.
Can US investors buy La Comer shares?
The shares trade on the Mexican stock exchange, known as the BMV. US investors usually need a broker with access to Mexican markets.
How many stores did La Comer open in the third quarter?
La Comer opened two stores, a La Comer in Cuernavaca and a Fresko in Monterrey. The chain now runs 96 stores, up from 90 a year earlier.
Sources: La Comer, S.A.B. de C.V., third quarter 2026 results release (BMV filing), 20 October 2026; La Comer investor relations, 22 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
In depth
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.