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.
Fomento Económico Mexicano (FMX) released its Q2 2020 financial results, revealing a significant decline in revenues and profits attributed to COVID-19 impacts. Revenues dropped by 10.7% year-over-year, while gross profit decreased by 9.1%. The fuel division faced the hardest hit with a staggering 48.6% drop in revenues. Despite challenges, the Health Division showed resilience, achieving a 2.5% increase in revenue. CEO Eduardo Padilla noted a slow recovery ahead, emphasizing ongoing safety measures and the company’s adaptability in the face of economic uncertainties.
Fomento Económico Mexicano (FMX) will hold its Second Quarter 2020 Conference Call on July 24, 2020, at 10:00 AM Eastern Time. CEO Eduardo Padilla will present the financial results for Q2 2020, which will be announced before the market opens on the same day. Participants can join the call by dialing (866) 548 4713 for US toll-free or +1 (323) 794 2093 internationally, using conference ID 5579690. The call will be accessible via a live webcast.
FEMSA announced the successful placement of a US$700 million re-tap to its Senior Unsecured Notes due 2050, increasing the total outstanding balance to US$2,500 million. The new notes were priced at 102.620 with an implied yield to maturity of 3.358%. The proceeds will enhance FEMSA's cost of debt and will be used for general corporate purposes. This issuance builds on the US$1,500 million and US$300 million notes previously released in January and February 2020, respectively.
Fomento Económico Mexicano (FMX) has reached an agreement with the Mexican tax authority to resolve tax disputes regarding payments made outside Mexico. The company will pay Ps. 8,790 million, which will be reflected in its financial statements for Q2 2020. This agreement allows FMX to avoid judicial proceedings, potentially providing more operational stability. The company operates in retail, beverages, and logistics, employing over 300,000 people across 13 countries.
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