Welcome to our dedicated page for Fomento Mexicano news (Ticker: FMX), a resource for investors and traders seeking the latest updates and insights on Fomento Mexicano stock.
Fomento Económico Mexicano, S.A.B. de C.V. reports operating and financial developments for a Mexico-based beverage and retail group whose ADR trades as FMX. FEMSA's recurring updates cover OXXO small-format stores in Mexico and other Americas markets, fuel operations, Valora convenience and foodvenience formats in Europe, Health drugstores, Spin by OXXO and Spin Premia digital services, and its participation in Coca-Cola FEMSA.
FEMSA also announces segment-structure updates, quarterly results, conference-call notices, annual meeting materials, dividend actions, governance items and completed portfolio changes such as the assumption of full ownership of OXXO Brazil. These developments connect retail expansion, same-store sales, beverage bottling performance and capital-return decisions to FEMSA's public-company reporting.
FEMSA announces a leadership change as Daniel Rodríguez Cofré is appointed CEO, succeeding Eduardo Padilla, effective January 1, 2022. Padilla, with a 25-year tenure at FEMSA, enhanced the company's retail operations, particularly OXXO. Rodríguez, previously CEO of FEMSA Comercio, has a strong background in finance and leadership, driving growth and digital transformation in the retail sector. This transition is part of FEMSA's long-term succession planning, aiming for continued economic and social value creation.
Fomento Económico Mexicano (FMX) is set to hold its Third Quarter 2021 Conference Call on October 29, 2021, at 10:00 AM Eastern Time. The results will be released on October 28 after market close. Key executives, including Chief Corporate Officer Francisco Camacho and Director of Finance Eugenio Garza y Garza, will host the call. Participants can access the call via toll-free US number (800) 263 0877 or international line +1 (646) 828 8143, using Conference ID 1173151. The call will also be streamed live online.
Fomento Económico Mexicano (FMX) announced the acquisition of Penn Jersey Paper Co. (PJP) by its subsidiary, Envoy Solutions. This move enhances FEMSA's distribution network, extending coverage to the Philadelphia metro area and New York City. PJP generated over $200 million in revenue over the past year, aligning with FEMSA's strategy to establish a leading national distribution platform in the U.S. The transaction, pending customary approvals, is expected to close in Q3 2021.
Fomento Económico Mexicano (FMX) announced the acquisition of Daycon Products Co., a specialized distribution company based in Maryland. This strategic move, expected to close in Q3 2021, will expand FEMSA's distribution footprint along the U.S. East Coast, enhancing its national distribution platform. Daycon generated approximately $75 million in revenue over the past year, contributing significantly to FEMSA's growth strategy.
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Fomento Económico Mexicano (FMX) reported significant financial results for Q2 2021, driven by a recovery from COVID-19 impacts. Revenues reached 137,058 million Ps, marking a 1968.7% increase compared to Q2 2020 and a 689.9% rise from Q2 2019. Gross profit surged to 53,858 million Ps, a 2368.6% increase from last year. The Health Division performed strongly, and Coca-Cola FEMSA delivered solid results. CEO Eduardo Padilla emphasized ongoing operational improvements and optimism for the future despite uncertainties.
Fomento Económico Mexicano (FMX) has announced its upcoming Second Quarter 2021 Conference Call set for July 28, 2021, at 10:00 AM ET. The results will be released before markets open on the same day. Key speakers include Francisco Camacho, Eugenio Garza y Garza, and Juan Fonseca. The call will be accessible via toll-free US and international numbers, and will also be webcast live. FEMSA operates in retail, beverage, and logistics, employing over 320,000 people across 13 countries.
Fomento Económico Mexicano (FMX) reported its Q1 2021 results, showing a 1.8% increase in consolidated revenues to 124,474 million Ps and a 1.5% rise in gross profit, totaling 46,534 million Ps. However, the Proximity Division witnessed a 4.8% revenue decline. Notably, the newly reported Logistics and Distribution segment contributed 10,809 million Ps in revenue. CEO Eduardo Padilla highlighted ongoing challenges due to the health crisis but noted a trend of improvement and commitment to long-term sustainability goals.
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Fomento Económico Mexicano, S.A.B. de C.V. (FMX) has submitted its annual report on Form 20-F for the fiscal year ending December 31, 2020, to the U.S. SEC and the Mexican authorities. These reports are accessible on FEMSA's investor relations website. Shareholders can also request a hard copy of the report, including audited financial statements, free of charge. FEMSA operates in retail, beverage, and beer sectors, employing over 320,000 individuals across 13 countries and is recognized in various sustainability indices.