FEMSA owner to invest US $1.3 billion to further OXXO expansion

By Elliot Bullman

FEMSA, the company that operates Mexico´s largest convenience store chain, OXXO, will invest about US $1.3 billion this year, despite economic uncertainty.

oxxo expansion

Fomento Económico Mexicano, known as Femsa, intends to proceed with caution but expects to continue investing in new gas stations and stores, and predicts double-digit growth in all its divisions.

Despite external factors such as the renegotiation of the North American Free Trade Agreement and exchange rate volatility, corporate director Eduardo Padilla said Femsa will continue with its strategy of opening 50 new OXXO Gas station-convenience stores a year.

XC2V1522_FACHADA_OXXO_CERCA_andatti

About $770 million of this year’s capital expenditures, which will be approximately the same as last year, will be in Coca-Cola Femsa, the world’s largest Coca-Cola bottler.

CEO Carlos Salazar Lomelín said Femsa continues to see a favourable consumer environment in spite of external dynamics such as the likelihood of higher inflation.

RELATED NEWS

  • REITS unharmed and even strengthened from the REITS unharmed and even strengthened from the 'Trump storm'
  • Tesla unveils first battery powered truckTesla unveils first battery powered truck
  • US game maker launches stunt to snarl plans for border wall with MexicoUS game maker launches stunt to snarl plans for border wall with Mexico
  • Bajío, a clear example of Mexico´s digital transformationBajío, a clear example of Mexico´s digital transformation
  • Most Millennials are Faring Worse than their Parents: StudyMost Millennials are Faring Worse than their Parents: Study
  • Mexico prepares macroeconomic contingency plan in case NAFTA talks breakdownMexico prepares macroeconomic contingency plan in case NAFTA talks breakdown
  • Could this be the perfect job - receiving money for enjoying life in Cancun?Could this be the perfect job - receiving money for enjoying life in Cancun?
  • Mexico, lagging behind in the use of financial robotsMexico, lagging behind in the use of financial robots
  • How long do you have to wait to be taken off the Credit Bureau’s black list?How long do you have to wait to be taken off the Credit Bureau’s black list?
  • Half a million mexicans could lose their savingsHalf a million mexicans could lose their savings
  • Online traders forecast a very good Buen FinOnline traders forecast a very good Buen Fin
  • Mexico and 10 Asia-Pacific countries lay the foundations of a trade agreement without the USMexico and 10 Asia-Pacific countries lay the foundations of a trade agreement without the US
WATCH LIVE TV



Most Read Articles
Most Watched Videos
  • Generations Riviera Maya
  • Mayair

Language

Mexico News Network
All rights Reserved 2017