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    Luis Yance

    Research Analyst at Santander

    Luis Yance serves as Head of Mexican Variable Income and Latin American Investment Strategies at Santander Asset Management, overseeing the firm's regional equity and Latin American investment portfolios. He previously served as Partner and Mexico CIO at Compass Group, a leading Latin American independent asset manager, bringing over 20 years of experience to his current role. Yance directs investment strategies for Mexican equities and broader Latin American markets, leveraging his extensive track record in asset management although specific performance metrics and public company coverage are not disclosed. He holds a Bachelor of Science in Management from Tulane University and has been recognized for his expertise in regional investment leadership since joining Santander in 2023.

    Luis Yance's questions to MEXICAN ECONOMIC DEVELOPMENT (FMX) leadership

    Luis Yance's questions to MEXICAN ECONOMIC DEVELOPMENT (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.

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