Fomento Mexicano Stock Price, News & Analysis

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) announces its upcoming Fourth Quarter and Full Year 2022 Conference Call on February 24, 2023, at 9:00 AM ET. The quarterly results will be shared before market opening. Interested participants can join via a toll-free US number or an international line, with a Conference ID of 1219864. The conference will also be available live on their website, and a replay will be accessible afterward. FEMSA operates in retail, health, beverages, and logistics across 18 countries, employing over 320,000 individuals and maintaining a focus on sustainability.

Fomento Económico Mexicano (FEMSA) has announced a partnership with Volaris, an ultra-low-cost airline, to become the first third-party partner in FEMSA's coalition loyalty program. This initiative will enable users to earn and redeem rewards points through OXXO, Volaris, and future partners. Alejandro Gonzalez-Saúl of Digital@FEMSA emphasized the benefits this agreement will bring to millions of customers, marking the start of future collaborations to enhance customer engagement. Details regarding the terms of the loyalty program will be disclosed after the partnership's implementation.

Fomento Económico Mexicano (FEMSA) has signed an agreement to acquire all remaining shares of NET PAY, becoming the 100% owner. This follows a minority stake acquisition in 2019. The acquisition aims to enhance FEMSA's offerings for micro, small, and medium-sized businesses in Mexico with improved payment services. CEO Jose Antonio Fernández emphasized the strategic importance, highlighting that this move will simplify transactions and increase profitability for small business owners. The transaction awaits customary closing conditions and government approvals, expected to close in Q1 2023.

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) reported a robust third quarter for 2022, highlighting a 20.5% increase in consolidated revenues compared to Q3 2021. Significant growth was observed across divisions: Proximity revenues rose by 20.6%, and Coca-Cola FEMSA experienced an 8.4% increase in total volume. Additionally, the health division reported 6.3% same-store sales growth on a currency-neutral basis. The digital platform, Spin by OXXO, reached 4.3 million users, while OXXO Premia gained 22.3 million loyalty users.

FEMSA Announces Leadership Changes

On October 13, 2022, FEMSA appointed Ian Craig as CEO of Coca-Cola FEMSA, effective January 1, 2023, succeeding John Santa María, who retired after 27 years. Ian, previously CEO of Coca-Cola FEMSA Brazil, brings extensive experience, having been with FEMSA for 28 years. Concurrently, Constantino Spas will succeed Alfonso Garza as CEO of FEMSA Strategic Businesses, also effective January 1, 2023. Constantino has served as CFO at Coca-Cola FEMSA since 2018, contributing to significant transformation efforts. These changes reflect FEMSA's commitment to long-term talent development.

FEMSA has successfully completed its acquisition of Valora Holding AG, achieving 97.77% ownership by October 7, 2022. The company plans to initiate a squeeze-out and delisting of Valora shares from the SIX Swiss Exchange. This acquisition is seen as a strategic move to strengthen FEMSA's presence in the European market for convenience stores and food services. Both CEOs expressed optimism about future growth, innovations, and synergies from this merger. Valora generated CHF 2.2 billion in sales in 2021 and operates around 2,700 locations across multiple countries.

Fomento Económico Mexicano (FMX) announced its subsidiary Compropago has received authorization from the Comisión Nacional Bancaria y de Valores to operate as an electronic payment funds institution in Mexico. This milestone is a significant step for FEMSA's digital strategy, aligning with efforts to enhance financial inclusion for over 4 million registered users. The CEO emphasizes the importance of this achievement for both economic and social value in local communities, reinforcing a secure and compliant business model.

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) will host its Third Quarter 2022 Conference Call on October 31, 2022, at 11:00 AM Eastern Time. The quarterly results will be released on October 28, prior to market opening. Interested participants can join the call by dialing toll-free US: (866) 580 3963 or international: +1 (786) 697 3501 with Conference ID: 1317423. The call will be available for live streaming on the company’s investor relations website, and a replay will also be accessible thereafter.