GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V. THIRD QUARTER 2024 RESULTS
GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V. THIRD QUARTER 2024 RESULTS |
[23-October-2024] |
MEXICO CITY, Oct. 23, 2024 /PRNewswire/ -- Grupo Comercial Chedraui, S.A.B. de C.V. reports its 2024 third quarter results. All figures are shown in nominal terms and reported under International Financial Reporting Standards (IFRS). 3Q'24 Highlights:
Antonio Chedraui, Grupo Comercial Chedraui's CEO, remarked: The results of the third quarter of the year reflect the great commitment of our employees in providing our customers with the lowest prices, the best assortment per store and an optimal shopping experience. In Mexico, thanks to the preference of our customers, we continued to gain market share, as our same-store sales grew above ANTAD's for the seventeenth consecutive quarter and exceeding ANTAD's growth by an average of 194 bps in the quarter. Our loyalty program "Mi Chedraui" continues to be a fundamental in strengthening our value proposition to our customers. At the end of September 2024, we had 12.6 million customers, growing 6% compared to the same period in 2023. "Mi Chedraui" has allowed us to identify more than 74% of the sales made in our stores in Mexico, which is a record for the company. At Chedraui USA, same-store sales maintained a positive trend, with 0.5% growth in U.S. dollars, driven by the favorable performance of El Super and Fiesta. At Smart & Final, we continue to carry out various initiatives to position ourselves as a primary store and recover a positive sales trend. It is also important to note that, in July, Chedraui USA (CHUSA) began operations of our new Ranch Cucamonga Distribution Center (RCDC) located in Southern California. This new DC will replace five existing Southern California distribution centers, support growth in the medium and long term for El Super and Smart & Final and make our supply chain more efficient. Finally, I would like to reiterate our commitment to investing in future growth, which is evidenced by CAPEX of $7,293 million pesos for the first nine months of the year and represents 3.6% of our consolidated sales. This investment was funded by cash generated from our operations. To access the full document, please click here. Conference Call Information Date Thursday, October 24th, 2024 Conference Call Operator-assisted US toll-free dial-in number: +1 877 407 3982 Webcast https://viavid.webcasts.com/starthere.jsp?ei=1693201&tp_key=9cb775df51 Ticker symbol (BMV): View original content:https://www.prnewswire.com/news-releases/grupo-comercial-chedraui-sab-de-cv-third-quarter-2024-results-302285245.html SOURCE Grupo Comercial Chedraui, S.A.B. de C.V. | ||
Company Codes: Mexico:CHDRAUIB |