Fomento Economico Mexicano, S.A.B. de C.V. (FEMSA) announced on its earnings call Thursday that 2026 first-quarter total consolidated revenues grew 6.1% and income from operations increased 5.5% compared with 2025’s first quarter.
FEMSA owns OXXO convenience stores.
- FEMSA is No. 38 on CSP’s 2026 Top 40 update to the 2025 Top 202 ranking of U.S. c-store chains by store count. Watch for the full 2026 Top 202 ranking in June.
In FEMSA’s Americas and Mobility division, which includes OXXO USA, OXXO Gas and OXXO LatAm, total revenues grew 12.9% and income from operations increased 34% versus 2025’s first quarter.
“FEMSA delivered a strong set of results for the first quarter,” said Jose Antonio Fernández Garza-Lagüera, Monterrey, Mexico-based FEMSA’s CEO. “OXXO improved its operating income by double digits in its key markets, handily outpacing revenues and expanding margins, while Coca-Cola FEMSA demonstrated its resilience and flexibility in the face of a challenging consumer environment in the core Mexican market, partially offset by a strong performance in South America.”
He added: “We should highlight the sustained recovery at OXXO Mexico, building on the positive trends we first saw during the fourth quarter of last year, and delivering high-single-digit revenue growth on the back of continued expansion and strong same-store sales despite a volatile environment.”
During the quarter, FEMSA also began to see the benefits from a leaner overhead structure and increased efficiency, he said.
Beyond Mexico, FEMSA’s Americas and Mobility operations delivered a “compelling” set of numbers, particularly Chile, Peru and Colombia showing double-digit growth in same-store sales and a “significant narrowing of losses as we steadily improve our footprint,” the CEO said.
Coca-Cola FEMSA gained market share in most of its markets and categories and achieved record volumes for a first quarter in several markets, including Brazil, Colombia and Guatemala, he said.
“As we look ahead towards what we expect should be a strong summer season due in part to the World Cup, we continue to like our current momentum across most of our business units, and we are optimistic as we execute against our long-term strategy in pursuit of sustainable profitable growth and despite the complex international macro environment,” he said.
In January, FEMSA appointed Jaime Longoria as the new leader of OXXO USA.
FEMSA, a beverage bottler and convenience-store retailer, has set its sights on becoming a major player in the United States after its acquisition of 249 Delek locations, officials said. The $385 million deal with Delek established FEMSA in the Southwest United States, primarily in Texas but also in New Mexico and Arkansas. The stores, previously operated under the DK Convenience brand, are transitioning to OXXO. The chain will retain a branded fuel partnership with Alon and DK Fuel, owned by Delek. FEMSA began operating the former Delek US stores on Oct. 1, 2024.
FEMSA owns the world's largest Coke bottler, Coca-Cola Mexico. Its Proximity Americas Division operates the OXXO convenience-store chain and related retail formats in Mexico, Central America and South America, and now in North America. Its Proximity Europe Division operates Valora, its European retail c-store unit.
The company has roughly 24,600 locations in South America, including about 23,000 in Mexico, 550 in Brazil, 550 in Colombia, 200 in Peru and 300 in Chile.
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