Revenue for the April-June period climbed 9.3% to 231 billion pesos. The flagship Oxxo chain saw same-store sales jump 9.5%, driven by a 7.4% rise in the average ticket size and a 2% increase in foot traffic. Chief Executive Jose Antonio Fernández Garza-Laguera attributed the performance to stronger regional execution, noting that while the World Cup provided a temporary lift, the company remains cautiously optimistic about the remainder of the year despite a soft consumer environment in Mexico.
In section Market Quotes
Femsa Profit Climbs 65% on Strong Oxxo Performance
Fomento Economico Mexicano reported a 65% surge in second-quarter profit, reaching 9.22 billion Mexican pesos. The retail and beverage giant benefited from a significant boost in sales at its Oxxo convenience store chain and improved operating margins, signaling a recovery in customer traffic after several quarters of decline.
Operating profit rose 7.2% to 19.11 billion pesos, while adjusted earnings before interest, taxes, depreciation and amortization grew 13% to 33.34 billion pesos. The Americas and Mobility division reported a 17.4% revenue increase, bolstered by the consolidation of Oxxo Brazil and a 56% surge in merchandise sales. Conversely, the company faced headwinds in Europe, where revenue dipped 3.8%, and in Mexico’s beverage sector, where higher excise taxes and weak demand weighed on Coca-Cola Femsa results despite 4.7% overall sales growth in that unit.
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