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    Santiago Alvarez Bringas

    Research Analyst at Summit Management

    Santiago Alvarez Bringas serves as an analyst at Summit Management, specializing in equity research and financial analysis with a focus on consumer retail, notably covering Bbb Foods Inc. He has directly participated in company earnings discussions, engaging with management on operational expansion, same store sales growth, and strategic developments. While detailed performance metrics such as TipRanks rankings or historical returns are not publicly available, his career includes recent, direct analytical contributions within Summit Management, where he is responsible for monitoring financial performance and engaging in company earnings calls. Specific professional credentials, licensing information, and a broader career timeline beyond his current analyst role at Summit Management are not disclosed in public records.

    Santiago Alvarez Bringas's questions to BBB FOODS (TBBB) leadership

    Santiago Alvarez Bringas's questions to BBB FOODS (TBBB) leadership • Q3 2024

    Question

    Santiago Alvarez Bringas from Summit Management asked for details on the unit economics for new stores, including the cost and the timing of its recognition in financial statements. He also inquired if the company has a 'sweet spot' or target for CapEx as a percentage of cash flow or another metric.

    Answer

    CFO Eduardo Pizzuto directed the analyst to a detailed slide in the company's IPO prospectus for unit economics, highlighting a target CapEx of MXN 3.9 million per store. He clarified that the company does not manage CapEx as a percentage of sales or cash flow. Instead, CapEx is a consequence of their strategy to reinvest all available capital back into growth by opening as many stores as possible.

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