FMX
NYSE · Consumer Defensive · Beverages - Alcoholic · MX
Research · Oct 30, 2026
Mexican Retail and Beverage Operators Turn to Automation as Workweeks Shrink
KOF and Walmex are responding to shorter workweeks and wage increases with automation and pricing, but the reforms differ in timing and near-term cost impact.
Research · Oct 29, 2026
FEMSA (FMX) Q3 2026 Earnings: OXXO Traffic Up, Margins Lag
FEMSA Q3 2026: OXXO Mexico traffic rose 3.5% and Coca-Cola FEMSA Mexico volume rose 4.2%, but operating margins fell at both, so profit growth lagged revenue.
Research · Oct 22, 2026
[FMX] FEMSA: Q3 2026 Preview, Can OXXO Traffic Hold After the World Cup?
FEMSA's 2Q26 revenue rose 9.3% to Ps. 231.0 billion as OXXO Mexico traffic turned positive at 2.0%; Q3 must show whether traffic holds without the World Cup.
Research · Sep 3, 2026
[FMX] FEMSA Thesis 2026: OXXO Convenience Network Scales Alongside New Bara Format
FEMSA (Fomento Económico Mexicano) FY25 — diversified Mexican consumer + retail conglomerate. Q4 Proximity Americas (OXXO) revenues +5.3% / +6.3% comparable; gross margin 48.1%; operating margin 12%. Added 209 net new OXXO stores Q4. OXXO Mexico same-store sales + traffic improving (recovery from FY24 challenges). OXXO Colombia positive EBITDA full year + nearly breakeven EBIT Q4. OXXO USA 50 converted stores year-end. Bara discount format +63 net new stores Q4 / +157 FY25; ~1/3 store base growth target FY26. Valora (Europe convenience) revenue +2.5% pesos / op income +10.8% / record op income. Health division Q4 revenue +4.6% / +6.7% comparable but underperformance + uncollectible accounts provision. Coca-Cola FEMSA (KOF) revenue +2.9% / op income +13.3%. OXXO GAS same-station +8.7% / margin 4.8%. Spin reduced negative EBIT. Restructuring ~MXN 1B annual run rate savings from 2027. $3.1B total capital returned to shareholders March 2025-March 2026.