La Comer (LACOMER UBC) Q1 2026 earnings summary

Executive summary

• Q1 2026 net sales rose 8.4% YoY to MXN 12,007m; same-store sales increased 5.5%, exceeding ANTAD growth.

• Net income increased 1.0% to MXN 742m; operating and EBITDA margins declined amid higher operating expenses.

Financial highlights

• Gross profit rose 9.7% to MXN 3,678m; gross margin expanded 35 bps to 30.6%, supported by product mix and inventory-management efficiency.

• Operating profit increased 1.5% to MXN 1,001m; operating margin fell to 8.3% from 8.9%.

• EBITDA was MXN 1,388m, up 0.1%; EBITDA margin contracted to 11.6% from 12.5%.

• Selling expenses rose 14.5% to MXN 2,344m, or 19.5% of sales versus 18.5% a year earlier.

Outlook and guidance

• 2026 expansion targets more than 100 stores; at least 5–6 additional openings are expected in the balance of the year, including Fresko and La Comer formats.

• Priorities include sustaining sales momentum, executing Temporada Naranja, and growing direct e-commerce and partner-supported channels.

• Supply-chain optimization, process simplification, automation and workforce productivity remain multi-year priorities; efficiency projects aim to mitigate labor and other expense pressures.