Alex Wright

Alex Wright asked if the increasing internal talent pool, as Tiendas 3B grows, is alleviating HR pressures and potentially allowing for faster new store openings. He also inquired about the CapEx budget for the year (MXN 3.65 billion), asking if there's headroom to come in below budget or if Q4 investments will lead to a pickup.

Answer

K. Anthony Hatoum, Founder, Chairman, and CEO, Tiendas 3B, emphasized their high bar for talent and significant investment in HR as a key success driver. He acknowledged that people are always the 'gating item' for expansion but highlighted a robust, long-term plan (three years ahead) to ensure sufficient qualified talent for future store openings. Eduardo Pizzuto, CFO, Tiendas 3B, confirmed that with additional DCs and store openings planned for Q4, they expect to be very close to the projected MXN 3.7 billion CapEx budget.

Alex Wright asked if the increasing internal talent pool and experience are alleviating HR pressures, potentially allowing for faster new store expansion. He also questioned the CapEx budget for the year, noting MXN 2.4 billion spent in the first nine months against a MXN 3.65 billion budget, and whether there's headroom to come in below budget or if Q4 investments will lead to a pickup.

Answer

CEO K. Anthony Hatoum emphasized Tiendas 3B's high bar for talent and significant investment in HR and talent development, which he views as a key success driver. He stated that while talent is always a gating item, robust long-term planning ensures sufficient caliber personnel for future store openings. CFO Eduardo Pizzuto confirmed that with remaining DC openings (one in early December) and additional store openings in Q4, the company expects to be very close to the projected MXN 3.7 billion CapEx budget.