Fomento Económico Mexicano B de C : Report of foreign issuer rules 13a-16 and 15d-16 of the Securities Exchange Act

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of October 2019

FOMENTO ECONÓMICO MEXICANO, S.A.B. DE C.V.

(Exact name of Registrant as specified in its charter)

Mexican Economic Development, Inc.

(Translation of Registrant's name into English)

United Mexican States

(Jurisdiction of incorporation or organization)

General Anaya No. 601 Pte.

Colonia Bella Vista

Monterrey, Nuevo León 64410

México

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports

under cover of Form 20-F or Form 40-F:

Form 20-Fx Form 40-F¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): _______

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): _______

Indicate by check mark whether by furnishing the information contained in this

Form, the registrant is also thereby furnishing the information to the

Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨ No x

If "Yes" is marked, indicate below the file number assigned to the registrant in

connection with Rule 12g3-2(b):82-_____________

FEMSA Announces Third Quarter 2019 Results

Monterrey, Mexico, October 28, 2019 - Fomento Económico Mexicano, S.A.B. de C.V. ("FEMSA") (NYSE: FMX; BMV: FEMSAUBD) announced today its operational and financial results for the third quarter of 2019.

FINANCIAL HIGHLIGHTS:

• 18.1% income from operations growth (17.7% on an organic1 basis) at FEMSA Consolidated
• 120 basis points gross margin expansion at FEMSA Comercio's Proximity Division
• 26.6% revenue growth (6.2% on an organic1 basis) at FEMSA Comercio's Health Division
• 50 basis points operating margin expansion at FEMSA Comercio's Fuel Division
• 21.1% income from operations growth at Coca-Cola FEMSA

FINANCIAL SUMMARY FOR THE THIRD QUARTER AND FIRST NINE MONTHS 2019

Change vs. Comparable Results2

					Income
	Revenues		Gross Profit	from Operations	Same-Store Sales
	3Q19	YTD19	3Q19	YTD19	3Q19	YTD19	3Q19	YTD19
FEMSA CONSOLIDATED	10.2%	9.1%	12.8%	11.0%	18.1%	10.9%
FEMSA COMERCIO
Proximity Division	10.1%	10.3%	13.7%	15.9%	9.4%	12.4%	5.0%	4.9%
Health Division	26.6%	14.4%	22.7%	11.0%	9.4%	1.4%	(0.7)%	(0.7)%
Fuel Division	1.2%	3.8%	16.8%	24.4%	23.7%	23.9%	(3.9)%	(3.7)%
COCA-COLA FEMSA	10.3%	9.1%	7.1%	7.2%	21.1%	11.1%

Eduardo Padilla, FEMSA's CEO, commented:

"The third quarter was a positive one on both the operational and strategic fronts. Operationally, we saw solid performances across our business units. OXXO continued to grow at a steady pace in Mexico, and we again saw encouraging data from the international operations. The Health division continued to see a soft patch in Chile but we are quickly making progress in the integration of GPF in Ecuador, while the Fuel division did not add to its number of stations but still managed to deliver encouraging results during the quarter. For its part, Coca-Cola FEMSA saw a resilient consumer environment in Mexico and solid growth in South America, combining to deliver a positive operating performance.

Strategically, we made two important announcements, first on our new joint venture with Raízen in Brazil, and more recently on our investment and joint venture with Jetro Restaurant Depot. These are relevant steps in our quest to deploy capital in high-growth,high-return retail assets, and we are very excited about both opportunities."

• Excludes the effects of significant mergers and acquisitions in the last twelve months.

• Comparable Results: Starting on the first quarter of 2019, we adopted the International Financial Reporting Standard 16 - "Leases" ("IFRS 16") across all our business units. The Comparable Results is a set of numbers which estimate the retroactive effect that the adoption of IFRS 16 would have had on FEMSA's 2018 financial results. The performance comparisons expressed in this document will be made relative to the Comparable Results unless stated otherwise.

1

Results are compared to the same period of previous year

FEMSA CONSOLIDATED

FEMSA CONSOLIDATED

3Q19 Financial Summary

(Millions of Ps.)

		Comparable			Reported
	3Q19	3Q18	Var.*	Org.*	3Q18
Revenues	130,470	118,371	10.2%	8.1%	118,371
Income from Operations	12,632	10,699	18.1%	17.7%	9,992
Income from Operations Margin (%)	9.7	9.0	70 bps		8.4
Operative Cash Flow (EBITDA)	19,776	17,632	12.2%	10.7%	15,046
Operative Cash Flow (EBITDA) Margin (%)	15.2	14.9	30 bps		12.7
Net Income	9,613	6,286	52.9%		6,598
*vs. Comparable Results

CONSOLIDATED BALANCE SHEET

(Millions of Ps.)

As of September 30, 2019	Ps.	US$ 3
Cash	97,851	4,956
Short-term debt	21,406	1,084
Long-term debt 4	96,310	4,878
Net debt 4	19,865	1,006

1

Total revenues increased 10.2% in 3Q19 compared to 3Q18, reflecting growth across all business units. On an organic basis, total revenues grew 8.1%.

Gross profit grew 12.8%. Gross margin expanded 90 basis points, mainly driven by strong expansion at FEMSA Comercio's Proximity and Fuel Divisions, partially offset by a contraction at Coca-Cola FEMSA and FEMSA Comercio's Health Division.

Income from operations increased 18.1%. On an organic basis,1 income from operations increased 17.7%. Consolidated operating margin increased 70 basis points to 9.7% of total revenues, reflecting margin expansion at Coca-Cola FEMSA and FEMSA Comercio's Fuel Division. These were partially offset by margin contraction at FEMSA Comercio's Proximity and Health Divisions.

Income tax was Ps. 3,391 million in 3Q19.

Net consolidated income increased 52.9% to Ps. 9,613 million, driven by the increase in our Income from operations described above, and a non-cash foreign exchange gain related to FEMSA's U.S. dollar-denominated cash position as impacted by the depreciation of the Mexican peso.

Net majority income was Ps. 2.03 per FEMSA Unit2 and US$1.03 per FEMSA ADS.

Capital expenditures amounted to Ps. 6,776 million, reflecting higher investments at most of our business units.

• Excludes the effects of significant mergers and acquisitions in the last twelve months.

• FEMSA Units consist of FEMSA BD Units and FEMSA B Units. Each FEMSA BD Unit is comprised of one Series B Share, two Series D-B Shares and two Series D-L Shares. Each FEMSA B Unit is comprised of five Series B Shares. The number of FEMSA Units outstanding as of September 30, 2019 was 3,578,226,270, equivalent to the total number of FEMSA Shares outstanding as of the same date, divided by 5.
  3 The exchange rate published by the Federal Reserve Bank of New York for September 30, 2019 was 19.7420 MXN per USD. 4 Includes the effect of derivative financial instruments on long-term debt.

October 28, 2019	2

FEMSA COMERCIO - PROXIMITY DIVISION

FEMSA COMERCIO - PROXIMITY DIVISION

3Q19 Financial Summary

(Millions of Ps. except same-stores sales)

		Comparable		Reported
	3Q19	3Q18	Var.*	3Q18
Same-store sales (thousands of Ps.)	824	785	5.0%	785
Revenues	48,429	43,967	10.1%	43,967
Income from Operations	4,413	4,034	9.4%	3,610
Income from Operations Margin (%)	9.1	9.2	-10 bps	8.2
Operative Cash Flow (EBITDA)	6,969	6,325	10.2%	4,997
Operative Cash Flow (EBITDA) Margin (%)	14.4	14.4	0 bps	11.4
*vs. Comparable Results

Total revenues increased 10.1% in 3Q19 compared to 3Q18, reflecting the opening of 232 net new OXXO stores in the quarter to reach 1,362 total net new store openings for the last twelve months. As of September 30, 2019, FEMSA Comercio's Proximity Division had a total of 18,840 OXXO stores. OXXO's same-store sales increased an average of 5.0%, driven by 6.5% growth in average customer ticket, which was partially offset by a decrease of 1.4% in store traffic.

Gross profit reached 40.0% of total revenues, reflecting: i) sustained growth of the services category including income from financial services; ii) healthy trends in our commercial income activity; and iii) increased and more efficient promotional programs with our key supplier partners.

Income from operations amounted to 9.1% of total revenues. Operating expenses increased 15.0% to Ps. 14,970 million, above revenues, mainly reflecting: i) our continuing initiative to strengthen our compensation structure of key in-store personnel in a tight labor market, including the gradual shift from commission-based store teams to employee-based teams; and ii) higher secure cash handling costs driven by increased volume and higher operational costs. These were partially offset by lower electricity costs as more than half of our stores in Mexico are now being supplied from wind energy.

October 28, 2019	3

FEMSA COMERCIO - HEALTH DIVISION

FEMSA COMERCIO - HEALTH DIVISION

3Q19 Financial Summary

(Millions of Ps. except same-stores sales)

		Comparable		Reported
	3Q19	3Q18	Var.*	Org.*	3Q18
Same-store sales (thousands of Ps.)	1,399	1,410	(0.7)%		1,410
Revenues	15,909	12,562	26.6%	6.2%	12,562
Income from Operations	647	592	9.4%	3.7%	540
Income from Operations Margin (%)	4.1	4.7	-60 bps		4.3
Operative Cash Flow (EBITDA)	1,539	1,277	20.5%	0.9%	789
Operative Cash Flow (EBITDA) Margin (%)	9.7	10.2	-50 bps		6.3
*vs. Comparable Results

Total revenues increased 26.6% in 3Q19 compared to 3Q18. On an organic basis,1 total revenues grew 6.2% reflecting stable trends in Mexico and positive trends in Colombia, that were partially offset by soft trading in Chile and a negative currency translation effect related to the appreciation of the Mexican peso compared to the Chilean and Colombian pesos. As of September 30, 2019, FEMSA Comercio's Health Division had a total of 3,130 points of sale across our territories. This figure reflects the addition of 69 net new stores in the quarter, to reach 827 total net new store additions for the last twelve months, including the integration of Corporación GPF during the 2Q19. Same-store sales for drugstores decreased an average of 0.7%, reflecting the effects described above.

Gross profit represented 29.4% of total revenues, reflecting; i) new pricing regulations in Colombia; ii) increased promotional activity in Chile; and iii) the consolidation of Corporación GPF. These were partially offset by improved efficiency and more effective collaboration and execution with our key supplier partners in Mexico.

Income from operations amounted to 4.1% of total revenues. Operating expenses increased 25.1% to Ps. 4,029 million, as cost efficiencies and tight expense control across our legacy territories were more than offset by the consolidation of Corporación GPF, which has a relatively higher operating expense structure.

• Excludes the effects of significant mergers and acquisitions in the last twelve months.

October 28, 2019	4