FMX · FMX Q2 FY2026 earnings call record财报电话会记录

“Over time, we have successfully developed our commercial levers, but sometimes this has come at the expense of customer centricity, focusing on expanding our margins, but steering us away from our customers and making us less competitive in certain key categories.”

“Ultimately, we expect this renewed customer centricity to translate into stronger, sustained traffic.”

“This gives us greater confidence that OXXO is increasingly resonating with the Colombian consumer and puts us in a stronger position to accelerate unit growth going forward.”

“It was also impacted by a positive participation in associate results of MXN 38 million, compared to a loss of MXN 756 million in the second quarter of 2025, which reflected the results of our joint venture in Brazil, as well as the proportional results of our stake in BradyPLUS.”

“These losses decreased this quarter, and we expect them to decrease further as Spin continues its significant efforts to reduce costs, advancing towards profitability.”

“OXXO Mexico delivered total revenue growth of 11.8%, driven by same-store sales growth of 9.5%, with traffic growing 2% and average ticket increasing 7.4%.”

“Gross margin was 44.8%, contracting 70 basis points year-over-year, mainly reflecting the impact of selected price rationalization initiatives and a higher mix of lower price point SKUs in key categories as we begin to adjust behind the customer centricity stance described by José Antonio.”

“Gross margin for merchandise increased 40 basis points to 27.3% of revenues, while in the fuel operations it decreased 130 basis points to 10.9%, reflecting the inclusion of diesel and the maximum fuel price commitments at OXXO Gas, together with higher costs for gasoline and diesel in Mexico generally.”

“Gross profit decreased by 8.7%, with a gross margin of 26.6%, a contraction of 310 basis points.”

“It's still, we are very conscious of the risks inherent in credit, especially in this segment, so we will proceed very slowly with our low-and-grow model, as I mentioned before.”

“What part of that gross profit we want to invest it in giving more value to some consumers that we see that could really benefit from OXXO serving them a half a dozen eggs at a very attractive price, or other traffic drivers that could be profitable, but that we're willing to give margin.”

“To be honest, the OXXO system and the consumer expects an OXXO that's open 24 hours in most places, not always, but most places, the store should be open 24 hours with two people serving the store, one for cleaning and taking inventory and receiving suppliers, and one for servicing the customers, at least.”