Fomento Economico Mexicano SAB de CV

Fomento Economico Mexicano SAB de CV operates as a holding company, which engages in the production, distribution, and marketing of beverages. The firm also produces, markets, sells, and distributes Coca-Cola trademark beverages, including sparkling beverages. It operates through the following segments: Coca-Cola FEMSA; FEMSA-Comercio Proximity Division; FEMSA-Comercio Health Division; FEMSA-Comercio Fuel Division; Heineken Investment; and Other Business. The Coca-Cola FEMSA segment produces, markets, sells, and distributes Coca-Cola trademark beverages through standard bottler agreements in the territories where it operates. The FEMSA-Comercio Proximity Division segment operates a chain of small-format stores in Mexico. The FEMSA-Comercio Health Division segment involves drugstores and related operations. The FEMSA-Comercio Fuel Division segment deals with retail service stations for fuels, motor oils, and other car care products. The Heineken Investment segment invests in Heineken and distributes beer in a large number of countries. The Other Business segment involves other companies and corporate activities. The company was founded by Isaac Garza, José Calderón, José A. Muguerza, Francisco G. Sada, and Joseph M. Schnaider in 1890 and is headquartered in Monterrey, Mexico.

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FEMSA's (FMX) Q4 results reflect the impacts of the COVID-19 pandemic due to reduced consumer mobility and operating restrictions across its segments, particularly OXXO and OXXO Gas operations.

FEMSA (FMX) Declines on Q4 Loss, Higher Operating Expenses

Fomento Económico Mexicano, S.A.B. de C.V. (FMX) Management on Q4, 2020 Results - Earnings Call Transcript

MONTERREY, Mexico, March 01, 2021 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) announced today its operational and financial results for the fourth quarter and full year of 2020.

FEMSA Announces Fourth Quarter and Full Year 2020 Results

On Monday, March 01, Fomento Economico (NYSE:FMX) will release its latest earnings report. Here is Benzinga's outlook for the company.

Earnings Outlook For Fomento Economico

Positive sales mix, tight expense control and a strong digital business are likely to have aided FEMSA's (FMX) Q4 performance. Softness in the Fuel Division and higher operating expenses remain headwinds.

FEMSA (FMX) to Report Q4 Earnings: What's in the Offing?

MONTERREY, Mexico, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) is pleased to invite you to participate in its Fourth Quarter and Full Year 2020 Conference Call that will be held on:

FEMSA Schedules Conference Call to Discuss Fourth Quarter and Full Year 2020 Financial Results

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FEMSA (FMX) is on track to expand presence in the specialized distribution industry in the United States through the acquisition of two independent businesses in the industry.

FEMSA (FMX) Fortifies Presence in US Specialized Distribution

MONTERREY, Mexico, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) announced today it has reached agreements to acquire two independent specialized distribution businesses in the United States: Southeastern Paper Group, Inc., based in Spartanburg, South Carolina and Southwest Paper Company, Inc., (dba “SWPlus”) based in Wichita, Kansas. Combined revenues of the acquired businesses for the last twelve months as of September 2020, were approximately US$ 380 million.

FEMSA increases its specialized distribution footprint in the United States

FEMSA posted better than expected third quarter results, but the beat was driven largely by Coca-Cola FEMSA, and underlying results at the OXXO convenience store business remain weak. OXXO's business model is predicated on frequent/repeated low-ticket visits, and same-store sales have been hit hard by reduced consumer mobility in Mexico.

Reduced Consumer Activity Continues To Pummel FEMSA

Fomento Económico Mexicano, SAB de C.V. (FMX) CEO Miguel Eduardo Silva on Q3 2020 Results - Earnings Call Transcript

FEMSA's (FMX) third-quarter 2020 results continued to reflect the impacts of the pandemic-led disruptions. However, it witnesses sequential recovery due to the easing of restrictions.

FEMSA (FMX) Q3 Earnings Miss Estimates, Revenues Decline Y/Y

MONTERREY, Mexico, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) announced today its operational and financial results for the third quarter of 2020.

FEMSA Announces Third Quarter 2020 Results

FEMSA (FMX) has been witnessing softness across all segments, owing to the coronavirus-led restrictions, which are likely to have resulted in reduced traffic trends in the third quarter.

Here's What You Should Know Ahead of FEMSA's (FMX) Q3 Earnings

MONTERREY, Mexico, Oct. 08, 2020 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) announced that its subsidiary, FEMSA Comercio has reached an agreement with SMU, S.A, a leading Chilean retailer, to acquire its OK Market store chain for a total amount of 1,515,965 Unidades de Fomento 1 or approximately CLP $43,500 million. The transaction is subject to final confirmatory due diligence, the signing of definitive agreements and customary regulatory and anti-trust approvals and is expected to close during 2021.

FEMSA Comercio announces agreement with Chilean retailer SMU to acquire OK Market stores

MONTERREY, Mexico, Oct. 07, 2020 (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) is pleased to invite you to participate in its Third Quarter 2020 Conference Call that will be held on:

FEMSA Schedules Conference Call to Discuss Third Quarter 2020 Financial Results

FEMSA Hit Hard As It Proves Less Defensive Than Hoped

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FEMSA (FMX) second-quarter results reflect significant impacts of the coronavirus outbreak across all segments caused by restrictions on mobility, soft consumer demand and lower supplies.

FEMSA (FMX) Q2 Earnings & Sales Down Y/Y on Coronavirus Woes

Fomento Economico Mexicano SAB de CV (FMX) CEO Eduardo Padilla on Q2 2020 Results - Earnings Call Transcript

MONTERREY, Mexico, July  24, 2020  (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) announced today its operational and financial results for the second quarter of 2020.

FEMSA Announces Second Quarter 2020 Results

FEMSA's (FMX) second-quarter 2020 results are expected to reflect impacts of the pandemic, which has led to soft traffic trends across all divisions due to restrictions on mobility and elevated costs.

FEMSA (FMX) to Report Q2 Earnings: What's in the Offing?

MONTERREY, Mexico, July  09, 2020  (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) is pleased to invite you to participate in its Second Quarter 2020 Conference Call that will be held on:

FEMSA Schedules Conference Call to Discuss Second Quarter 2020 Financial Results

MONTERREY, Mexico, June  25, 2020  (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) announced the successful placement of a US$700 million re-tap to its US-denominated SEC-registered Senior Unsecured Notes due 2050 (“New Notes”), representing an additional issuance to FEMSA’s outstanding US$1,500 million 3.500% Senior Unsecured Notes due 2050 issued on January 16, 2020 (“Initial Notes”), and the outstanding US$300 million re-tap notes issued on February 12, 2020 (“Re-Tap Notes”). The New Notes will be treated as a single class with the Initial Notes and Re-Tap Notes, raising the total outstanding balance to US $2,500 million.  The New Notes were priced at 102.620 for an implied yield to maturity of 3.358%.

FEMSA Announces Successful Re-tap to its Senior Unsecured Notes due 2050

MONTERREY, Mexico, May  29, 2020  (GLOBE NEWSWIRE) -- Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) announced that it reached an agreement with the Mexican tax authority (the Servicio de Administración Tributaria), to resolve interpretative differences over taxes paid outside of Mexico, without judicial action. Under the agreed terms, FEMSA will pay the amount of Ps. 8,790 million, that will be recognized in FEMSA’s financial statements during the second quarter of 2020.

News for Fomento Economico Mexicano SAB de CV Stock (FMX)