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Mexico s Femsa reports fourth quarter net loss of $62 million, hampered by new wave of pandemic
By Reuters Staff
1 Min Read
FILE PHOTO: The logo of Coca Cola Femsa, the largest Coke bottler in the world, is pictured at its headquarters in Monterrey, Mexico, April 25, 2017. Picture taken April 25, 2017. REUTERS/Daniel Becerril
MONTERREY, Mexico (Reuters) - Mexican conglomerate Femsa on Monday reported a net loss of 1.2 billion pesos ($62 million) in the fourth quarter, after a fierce new wave of coronavirus infections slowed sales at Femsa’s gas stations and vast chain of Oxxo convenience stores.
“A new wave of COVID cases and virus variants brought more stringent operating restrictions and again hampered customer mobility,” Femsa’s Chief Executive Eduardo Padilla said in the company’s report.
By Reuters Staff
2 Min Read
FILE PHOTO: A man walks past the corporate logo of Coca-Cola Femsa at a distribution center of the company in Caracas, Venezuela October 22, 2018. REUTERS/Marco Bello
RIO DE JANEIRO (Reuters) - Mexican Coke bottler Coca-Cola Femsa said on Wednesday that it had reached an agreement with Heineken NV over distribution in Brazil, a move that clears a significant legal hurdle for the Dutch brewer’s expansion in the South American nation.
The agreement is slated to be implemented in the middle of 2021, the company added in a statement, and will last through 2026.
Heineken has expanded significantly in Brazil in recent years, where it is competing fiercely against national giant Ambev SA.
Heineken is to take the distribution of its two biggest beer brands away from The Coca-Cola Co in Brazil as the two sides settle a long-standing dispute in the country. related to Beer & cider, Soft drinks, Wine, Coca-Cola Co, Heineken,
Fomento Economico Mexicano: FEMSA Schedules Conference Call to Discuss Fourth Quarter and Full Year 2020 Financial Results
Monday, March 1, 2021
(9:00 AM Mexico City Time)
The call will be hosted by:
Francisco Camacho, Chief Corporate Officer
Eugenio Garza y Garza, Director of Finance and Corporate Development
Juan Fonseca, Director of Investor Relations
The quarterly results will be released on March 1 before markets open.
To participate in the conference call please dial:
Toll Free US:
http://ir.femsa.com
http://ir.femsa.com/results.cfm
FEMSA is a company that creates economic and social value through companies and institutions and strives to be the best employer and neighbor to the communities in which it operates. It participates in the retail industry through FEMSA Comercio, comprising a Proximity Division operating OXXO, a small-format store chain, a Health Division, which includes drugstores and related activities, and a Fuel Division, which operates the OXXO GAS