Organización Soriana (SORIANA) Q1 2026 earnings summary

Executive summary

• Total revenue for Q1 2026 was MXN 40,444 million, a 2.4% year-over-year decrease, with 812–832 stores in operation and 8 closures as part of an efficiency plan.

• Same-store sales declined by 3.2% compared to Q1 2025.

• Super format stores outperformed, especially in Quintana Roo, Jalisco, Sonora, Nayarit, and Tabasco.

• Digital sales grew 23% year-over-year, with a 22% increase in orders, reflecting strong online adoption.

• Private label sales rose to 14% of total sales, up nearly one point year-over-year, with double-digit growth for brands like Quality Day and Valley Foods.

Financial highlights

• Gross profit reached MXN 9,978 million, with a 24.7% gross margin, up 7% year-over-year, aided by non-recurring land sales and insurance recovery.

• Operating expenses increased 17% year-over-year to MXN 7,616 million, mainly due to higher personnel and minimum wage hikes.

• EBITDA was MXN 2,871 million, with a margin of 7.1%–10.1%, up 1.1%–1.7% year-over-year.

• Net financial cost dropped 20.6%–24.6% year-over-year to MXN 502 million, driven by lower debt and improved financing rates.

• Net income rose 19.4% year-over-year to MXN 834 million, representing 2.1% of revenue.

Outlook and guidance

• Guidance for same-store sales growth remains at 4% for 2026, with expectations for acceleration due to major commercial campaigns and easier comparables.

• Gross margin improvements are expected to continue, but part of the gains will be reinvested in pricing and marketing to enhance customer perception.

• Ongoing labor cost pressures from minimum wage increases are anticipated for at least the next three years, with continued focus on efficiency and automation to offset costs.

• Plans to expand electromobility infrastructure, targeting 119 charging stations by year-end 2026.

• Continued focus on social responsibility, community support, and environmental initiatives.