Migros Group has recently published its FY 2022 results, showing over 4% sales growth. Similarly to other retailers, the group has absorbed the rising cost of energy and raw materials, thus seeing a significant drop in their profit compared to previous years, despite record sales.   The numbers at a glance  YoY sales: 4.2% to CHF 30.1 bn (€30.7 bn) Retail sales: -0.3% to CHF 24.7 bn (...

OXXO, a Mexican convenience store chain (owned by FEMSA), recently announced it will open two new stores every three days until the end of the year. As of September 30, 2022, OXXO operated 20,899 stores across Latin America, and in November last year, it announced its 10-year plan to open 10,000 stores. Following a successful acquisition of Valora Group (more below), we will soon start to see ...

This Tuesday (5 July), FEMSA, a Mexican Coca-Cola bottler and convenience store operator, announced its all-cash offer to acquire Swiss convenience and foodservice retailer Valora. The deal is subject to regulatory approval, but if approved, FEMSA has agreed to purchase all the publicly held shares of Valora Holding AG for 260 Swiss francs per share, totaling CHF1.1 bn (€1.1 billion). It expect...