Luis Yance's questions to Fomento Economico Mexicano SAB de CV (FMX) leadership • Q2 2024
Question
Luis Yance of Santander asked for an outlook on second-half same-store sales, balancing easier comparisons with potential post-election macro headwinds. He also inquired about performance differences across formats like OXXO Mexico, LatAm, and Bara.
Answer
Executive Juan Fonseca expressed cautious optimism that H2 same-store sales could land slightly above the historical 5% average, but acknowledged the macro uncertainty. He explained that high growth in newer formats like OXXO Brazil and Bara is driven by their novelty and meeting unmet needs. CFO Martin Arias Yaniz added that value propositions are tailored by market, with Chile being more challenging than the growth markets of Brazil and Colombia. Juan Fonseca concluded by highlighting prepared food as a key future growth driver, especially in Mexico.