GRUPO COMERCIAL CHEDRAUI, S.A.B. DE C.V. THIRD QUARTER 2023 RESULTS

MEXICO CITY, Oct. 24, 2023 /PRNewswire/ -- Grupo Comercial Chedraui, S.A.B. de C.V. reports its 2023 third quarter results. All figures are shown in nominal terms and reported in accordance with International Financial Reporting Standards (IFRS).

Antonio Chedraui, Grupo Comercial Chedraui's CEO, remarked:

"Our growth strategy in Mexico and the United States continues to achieve good results, as we focus on delivering the variety of products our customers want at the best possible price.  In the quarter, we maintained cost discipline and continued our organic growth strategy by opening 23 stores in Mexico and one El Super in Las Vegas, Nevada.  In Mexico, same-store sales continue to grow above ANTAD levels, with an average spread of 287 basis points in 2023, indicating that we are taking market share away from our competitors. In the United States, despite an expected slowdown in economic activity, our customer base continues to grow as we offer excellent value to our customers by providing a wide range of products at attractive prices. Our margins continue to improve, and excess cash from the operations allowed us to reduce debt levels."

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Conference Call Information

Date

Wednesday, October 25th 2023

11:00 am (EST)
9:00 am (Mexico City)

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SOURCE Grupo Comercial Chedraui, S.A.B. de C.V.