Fomento Economico Mexicano SAB de CV ADR

FMX: XNYS (USA)
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Femsa Earnings: Oxxo Results Soft Amid Macro Headwinds, but Digital Initiatives Show Promise

Femsa grew sales by 6% in the second quarter, but operating profits rose only 1% as Oxxo was a drag (profits down 3%) and the bottling business was flat. Marking its progress in digital, the firm posted user growth of 19% and 17% in its payment and loyalty programs, respectively.

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