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FEMSA Announces First Quarter 2021 Results

Press release content from Globe Newswire. The AP news staff was not involved in its creation.
FEMSA Announces First Quarter 2021 Results
Fomento Economico MexicanoApril 29, 2021 GMT
MONTERREY, Mexico, April 29, 2021 (GLOBE NEWSWIRE) Fomento Económico Mexicano, S.A.B. de C.V. (“FEMSA”) (NYSE: FMX; BMV: FEMSAUBD) announced today its operational and financial results for the first quarter of 2021.
ENHANCED DISCLOSURE
In a permanent effort to improve our disclosure to better match the evolution of our business and communicate our performance, we are making a change to the way we present our financial results:
Given the growing relevance and potential of our logistics and distribution business, we will report its results as a new segment going forward. With this addition, we will disclose our core operations as follows: i) FEMSA Comercio’s retail divisions: Proximity, Health and Fuel; ii) Logistics and Distribution; and iii) Coca-Cola FEMSA. ....

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UPDATE 1-Mexico's Femsa sees quarterly net profit fall 40%

FEMSA-RESULTS/ (UPDATE 2):UPDATE 2-Profits at Mexico's Femsa take a hit compared with pre-pandemic level ....

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Origin Stories: NorthMarq Executive Chair Eduardo Padilla

This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.
Eduardo Padilla is an immigrant success story, but with a twist. He came from Cuba with his family when he was 6 years old in the 1960s, as so many others did at the time. In the following years, Padilla s family made a new life for themselves a bit farther from Cuba than many of their fellow immigrants: St. Paul, Minnesota.
Padilla said his father was very much an inspiration to him as he grew up in a St. Paul garden apartment. ....

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Mexico's Femsa reports fourth quarter net loss of $62 million, hampered by new wave of pandemic

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. ....

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