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Femsa Comercio Announces Agreement With Chilean Retailer Smu To Acquire Ok Market Stores
Fomento Economico Mexicano Says Current Shareholders Of Waxie And North American Will Remain Investors
FEMSA Qtrly Consolidated Revenue Growth Of 10.2%
Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA) is a holding company. The Company's segments are Coca-Cola FEMSA, FEMSA Comercio-Retail Division and FEMSA Comercio-Fuel Division. The Company conducts its operations through holding companies, such as Coca-Cola FEMSA, S.A.B. de C.V. and subsidiaries (Coca-Cola FEMSA), which produces, distributes and sells beverages; FEMSA Comercio, S.A. de C.V. and subsidiaries (FEMSA Comercio), which consists of a Retail Division operating various small-format chain stores, and CB Equity LLP, which holds its equity investment in Heineken N.V., and Heineken Holding N.V. The Company's Coca-Cola FEMSA produces, markets, sells and distributes Coca-Cola trademark beverages through standard bottler agreements in certain territories in the countries, in which it operates. Coca-Cola FEMSA also sells bottled water products. FEMSA participates in the retail sector primarily through FEMSA Comercio.
General Anaya 601
PonienteCol. Bella Vista
Jose Antonio Fernandez Carbajal
Executive Chairman of the Board
Miguel Eduardo Padilla Silva
Chief Executive Officer, Director
Gerardo Estrada Attolini
Director of Corporate Finance
Alfonso Garza Garza
Chief Executive Officer of Strategic Businesses of FEMSA, Director
Daniel Alberto Rodriguez Cofre
Chief Executive Officer of FEMSA Comercio
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Two big companies in Mexico face possible criminal charges over taxes after they failed to reach agreements with authorities, a top prosecutor said on Thursday, as officials seek to stop corporate tax evasion with threats of jail time.
Mexico's tax chief on Wednesday said officials have reviewed several hundred big companies this year in their push to boost tax collection, of which only two firms initially refused to pay.
An international lawyers' group has said Mexico is violating international law with threats to criminally prosecute attorneys as part of a campaign to make companies settle tax disputes.
Mexico could issue arrest warrants for suspected tax dodgers by September, a top prosecutor said, as the government ramps up an aggressive campaign to squeeze more revenue out of businesses and end years of what it calls weak tax collection.
Mexican conglomerate Femsa said on Friday it will pay $398 million in taxes after reaching an agreement with authorities, marking another win for Mexico's government, which recently collected a similar sum from retailer Walmart de Mexico.
Mexican conglomerate Femsa posted robust first quarter results on Thursday, but warned that the coronavirus crisis has prompted the firm to scale back spending and caused a dwindling supply of beer that drives its convenience store sales.
Mexican bottler and retailer Femsa said on Thursday its net profit more than tripled in the first quarter to 7.79 billion pesos ($327.2 million), compared with the same period a year earlier, exceeding analyst estimates.
Mexico's Femsa said on Thursday its fourth-quarter net profit fell by more than half compared with a year ago, dragged down by the Mexican peso's appreciation and higher costs at the conglomerate's Coca-Cola bottling unit.
Mexican bottler and retailer Femsa said on Thursday its net profit fell more than half in the fourth quarter to 4.79 billion pesos ($253.6 million) in comparison to the same period a year earlier.
Mexican retailers expect sales growth to slow slightly in 2020 after a stronger-than-expected performance last year, a top industry association said on Thursday.
Mexico City's new ban on plastic bags has inspired visions of a journey back in time even as local makers of the packaging worry they could become obsolete.
Mexico's Femsa notched a 55% rise in third-quarter net profit to 7.27 billion pesos ($369 million), the bottler and retailer said on Monday, but its shares fell on growth concerns with its Oxxo convenience store chain.
Mexican bottler and retailer Femsa said on Monday its third-quarter net profit increased by 55% in the third quarter to 7.27 billion pesos ($369 million) in comparison to the same period a year earlier.
Airlines headlined stock moves in Latin America on Friday, after Delta Air Lines' purchase of a stake in Chile's LATAM Airlines sent its shares soaring 30%, while Brazilian counterpart Gol slid. LATAM's surge saw Chile stocks jump up to 2.5% during the session and hit their...
Mexican conglomerate Femsa <FEMSAUBD.MX> said on Thursday it had signed a non-binding agreement to acquire a minority stake in U.S. cash-and-carry retailer Jetro Restaurant Depot, adding to recent investments by Mexican firms abroad.
Mexican conglomerate Femsa said on Thursday it had signed a non-binding agreement to acquire a minority stake in U.S. cash-and-carry retailer Jetro Restaurant Depot, adding to recent investments by Mexican firms abroad.
Mexican conglomerate Femsa <FEMSA plans to invest over 61 billion pesos ($3.12 billion) and create about 41,000 jobs in Mexico during the next three years, the company said in a statement on Friday, confirming earlier reports.
Mexican conglomerate Femsa plans to invest 61.88 billion pesos ($3.14 billion) in Mexico from 2019 to 2021, creating some 41,000 direct jobs over that time, chairman Jose Antonio Fernandez Carbajal said on Thursday, according to local press.
Brazil's Lojas Americanas SA has signed a nonbinding memorandum of understanding with fuel distributor Petrobras Distribuidora SA to study a partnership in the convenience store segment, the discount retailer said on Friday.
Brazil's energy and logistic group Cosan SA said on Tuesday the joint venture formed between Raízen and Mexico's FEMSA to explore the convenience market in Brazil will open 500 stores with the OXXO and Select brands in the next three years.
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