Mexican café and restaurant chain operator Alsea reported a 53 per cent decline in second-quarter net profit and lowered its 2026 earnings forecast, as the company cited a challenging consumer environment in Mexico.

Alsea's portfolio includes Starbucks stores across 12 countries in Latin America and Europe, with Mexico, France, and Spain among its leading markets. Beyond Starbucks, Alsea operates other major international brands across its restaurant network, including Domino's Pizza, Burger King, and Chili's, making it one of the largest food-service operators in Latin America. At the time of writing, the company operates 951 Starbucks stores in Mexico, within a total network of 1,964 locations.

For the second quarter, Alsea posted revenue of 21.09 billion pesos (US$34 million) and net profit of 531.5 million pesos (US$8.61 million). Same-store sales in Mexico, its key Starbucks market, fell by two per cent, while same-store sales in Europe increased by 2.2 per cent.

Alsea CEO Christian Gurría described the results as "solid", while pointing to the "challenging consumer environment in Mexico".

"Despite these conditions, the strength of our diversified portfolio, the appeal of our brands, and operational discipline enabled us to deliver solid results and outperform the market as the quarter progressed," he says.

"These results reaffirm the resilience of our business model and Alsea's ability to successfully manage different consumer cycles."

In May 2026, Alsea said it had successfully executed a new licensing agreement with Starbucks, securing the right to develop and operate Starbucks coffee shops in all of its current markets through to 2046. The 20-year extension locks in Alsea's position as Starbucks' exclusive operator across its existing Latin American and European territories, removing a key source of partnership uncertainty for investors.

Gurría said the difficult conditions in Mexico were most evident within Alsea's Starbucks business.

"Within the Coffee Shops segment, Starbucks faced a particularly challenging environment in Mexico," he says.

"Rather than prioritising short-term results, we remained focused on enhancing the customer experience through our store remodelling and refurbishment program, as well as new store openings to bring our brand closer to a greater number of consumers, while strengthening our value proposition, improving store profitability, and reinforcing the long-term health of the brand.

"We are confident these actions will further strengthen Starbucks' competitive position and allow us to capitalise on an accelerated recovery as consumer demand improves."

Alsea's Q2 2026 earnings release is available at alsea.net.