MONTERREY, Mexico, March 1 (Reuters) - Femsa on Monday
reported a net loss of 1.2 billion pesos ($62 million) in the
fourth quarter, after a fierce new COVID-19 wave slowed sales at
the Mexican conglomerate's gas stations and vast chain of Oxxo
"A new wave of COVID cases and virus variants brought more
stringent operating restrictions and again hampered customer
mobility," Femsa Chief Executive Eduardo Padilla said in the
company's earnings report.
"Short-term uncertainty levels remain high, but we
anticipate an eventual recovery to take hold on the back of
broad vaccination efforts and a pandemic that gradually cedes
ground to normalcy as the year advances," he added.
The Monterrey-based bottler of Coca-Cola products and
retailer posted total revenue of 130.3 billion
pesos, down 1.5% from the fourth quarter in 2019.
Revenues for Femsa's gas stations fell 31%, as stay-at-home
measures reduced mobility, while sales at Oxxo convenience
stores fell 2.4%, driven by declines in store traffic, the
The only Femsa business that grew was its pharmacy unit,
with a 15.4% revenue increase, due to sustained demand.
(1 U.S. dollar = 19.9500 pesos)
(Reporting by Laura Gottesdiener in Monterrey and Noe Torres in
Mexico City; Writing by Laura Gottesdiener; Editing by David
Alire Garcia, Bernadette Baum and Paul Simao)