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Tiendas 3B (TBBB) is a leading grocery hard discount retailer in Mexico, known for its rapid growth in sales and store expansion. The company focuses on delivering high-quality products at bargain prices to budget-conscious consumers. TBBB offers a limited assortment of approximately 800 stock-keeping units (SKUs) covering daily grocery needs, providing market-leading value for money and convenience with stores located in central neighborhoods.
- Private Label Products - Developed by Tiendas 3B, these products are believed to be of comparable or better quality than branded alternatives, offered at competitive prices.
- Branded Products - Offers national and international brand label goods at the lowest sustainable price to attract customers and drive traffic.
- Spot Products - Provides limited-quantity food and non-food items at exceptional value, with selections changing every two weeks on average.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
K. Anthony Hatoum ExecutiveBoard | Founder, Chairman of the Board, and Chief Executive Officer | K. Anthony Hatoum is the Founder, Chairman of the Board, and Chief Executive Officer of TBBB. He has led the company since its inception 19 years ago, demonstrating extensive leadership in the hard-discount retail sector. | View Report → | |
Alejandro Dávila Executive | Director of Real Estate | Alejandro Dávila is the Director of Real Estate at TBBB since 2022. Previously, he served as General Manager for OXXO Colombia from 2018 to 2021, contributing to the company's international expansion into Colombia, Chile, Brazil, and Peru. | ||
Diego Apalategui Executive | Director of Sales and Operations | Diego Apalategui has been the Director of Sales and Operations at Tiendas 3B (TBBB) since December 2004, bringing over two decades of retail experience. He began his career at Burger King Argentina and later contributed to scaling operations at EKI. | ||
Eduardo Pizzuto Executive | Chief Financial Officer and Investor Relations Officer | Eduardo Pizzuto has been serving as the Chief Financial Officer and Investor Relations Officer at TBBB Foods Inc. since 2007, playing a key role in financial oversight, expansion, and operational management. | ||
Javier Suárez Executive | Director of Human Resources | Javier Suárez has served as the Director of Human Resources at TBBB since 2004, contributing significantly to the company’s workforce development. He previously built his expertise in operational roles at McDonald’s and as Operations Manager at EKI. | ||
Luis Bermúdez Executive | Director of Purchasing | Luis Bermúdez has been the Director of Purchasing at TBBB since 2018, leveraging over 20 years of international experience in strategic purchasing. He previously held roles at Lidl, Aldi, and Dukan Retailing Discount Company. | ||
Pablo Grattarola Executive | Director of Information Technology | Pablo Grattarola is the Director of Information Technology at TBBB since 2023. He brings over two decades of multi-sector IT leadership experience, having served in key roles at AB-InBev and Banco Santander Uruguay. |
- Given your strong cash generation and rapid store expansion, how do you plan to deploy excess cash going forward—through dividends, share buybacks, or reinvestment—especially as you mentioned that it’s “too early” to talk about dividends?
- With the current diluted share count reflecting only in-the-money and vested options per IAS 33, how can investors better gauge the potential future impact on EPS as additional options vest over time?
- While you continue to meet your annual guidance for store openings, can you explain how the timing of new store contributions within the quarter might affect operating leverage and revenue consistency?
- You indicated that pricing decisions are made on a SKU-by-SKU basis and noted a lag in the revenue benefits from price changes; what measures are you taking to better manage the volatility in gross margins and forecast long-term margin trends?
- In light of a weaker peso and increased dollarization of manufacturing costs, what strategies are you employing with your suppliers to ensure that rising costs are efficiently passed on to consumers without compromising your competitive value proposition?
Recent press releases and 8-K filings for TBBB.
- Strong store expansion: The company opened 117 net new stores this quarter (totaling 2,889 stores) and increased same store sales by 13.5%, reflecting accelerated growth compared to last year.
- Robust revenue and EBITDA growth: Total revenues rose by 35% to reach MXN 17.1 billion, while EBITDA grew by 12.7% to MXN 705 million, alongside generating MXN 1.1 billion in operating cash flow and ending with a net cash position of approximately MXN 1.6 billion.
- Focused investment in growth and efficiency: The company continues to invest in technology and new store openings, leveraging initiatives like stock-based compensation for talent retention and operational efficiency even as related expenses impact margins.
- Store Expansion: Opened 117 net new stores in Q1 2025, bringing the total to 2,889 stores as of March 31, 2025.
- Revenue Growth: Reported total revenue of Ps. 17,132 million, a 35.1% increase from Q1 2024.
- Operational Performance: Achieved a 12.7% increase in EBITDA to Ps. 705 million and saw Same Store Sales grow by 13.5%.
- Strategic Investments: Continued to invest in operational enhancements, including technology and distribution centers, to support future growth.
- Q4 Performance: Revenue reached Ps. 16,347 million with a 32.7% increase and EBITDA rose by 51.1% to Ps. 845 million .
- Full-Year Results: Total revenue was Ps. 57,439 million (MXN 57.4 billion) growing 30.3% year-over-year, with EBITDA increasing 51.2% to Ps. 2,847 million .
- Store Expansion: The company opened 138 new stores in Q4 and 484 net new stores during 2024, raising the total to 2,772 stores .
- Same-Store Sales Growth: Q4 same-store sales grew by 11.8%, while full-year figures also showed robust performance .
- 2025 Guidance: The outlook targets same-store sales growth of 11%-14%, total revenue growth of 26%-29%, and plans to open 500-550 new stores .
- Underwriters exercised an option to purchase 2,338,431 additional Class A common shares to cover over-allotments in BBB Foods Inc.'s secondary offering (February 21, 2025).
- With the additional shares, the total offering reached 23,338,431 Class A common shares, executed at the public offering price through a registration statement on Form F-1.
- BBB Foods Inc. closed an underwritten secondary offering of 21,000,000 Class A common shares at a public offering price of $28.25 per share, with the transaction confirmed on February 7, 2025 .
- The offering, originally announced with pricing details, successfully met its expected terms and closing timeline .
- Selling shareholders granted underwriters an option to purchase up to 3,150,000 additional shares, with J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC acting as global coordinators .
- Preliminary 2024 Financial Performance: Estimated full-year revenue between Ps.57.4 billion and Ps.57.5 billion (US$2.92–2.93 billion), reflecting a roughly 30.2–30.4% increase over 2023
- Operational Highlights: Achieved 484 new store openings (totaling 2,772 stores) and an estimated 13.4% Same Store Sales growth for 2024
- Public Offering Announcement: Initiated an underwritten public offering of 17,500,000 Class A common shares on February 3, 2025
- Selling shareholders will offer the shares with an option for underwriters to purchase an additional 2,625,000 shares, coordinated by J.P. Morgan and Morgan Stanley
- Announcement made in Mexico City, underscoring the company’s strategic financial move amid its growth trajectory