Mexican retail giant Femsa saw its shares drop by as much as 6.8%, marking the largest decline since February 2024, as a domestic economic slowdown impacted second-quarter sales performance. The company reported quarterly revenue of 211.36 billion pesos ($11.3 billion), which aligned with analyst projections. However, gross profit came in at 85.92 billion pesos, falling below expert forecasts. While operations in Mexico underperformed, stronger performance in other parts of Latin America and Europe helped partially offset the regional weakness.
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Femsa Shares Drop After Earnings Point to Mexico Sales Slowdown
Shares of Mexican retail conglomerate Femsa fell as much as 6.8%, the most since February 2024, amid an economic slowdown in Mexico that affected local sales in the second quarter. n nRevenue in the second quarter was 211.36 billion pesos ($11.3 billion), meeting analysts’ estimates. Its gross profit was 85.92 billion pesos, falling short of analysts’ expectations. The results in Mexico were partly offset by stronger growth in the rest of Latin America and Europe.