BBB Foods Inc. Reports Q4 and Full Year 2024 Financial Results
MEXICO CITY–(Business Wire)–
BBB Foods Inc. (Tiendas 3B or the Company), a prominent grocery hard discounter in Mexico, recently disclosed its financial results for the fourth quarter (4Q24) and the entire year that ended on December 31, 2024. All figures in this release are expressed in Mexican Pesos (Ps.) and have been prepared according to International Financial Reporting Standards (IFRS), except where specified.
Fourth Quarter 2024 Highlights
During 4Q24, Tiendas 3B opened 138 new stores, marking a significant expansion in its retail footprint. The company’s net sales for the quarter reached Ps. 75.8 billion, representing a 16.5% increase compared to the same period the previous year. Operating income for the quarter surged by 24.3% year-over-year, coming in at Ps. 2.5 billion.
Full Year 2024 Financial Performance
The company’s net sales for the entire year of 2024 amounted to Ps. 257.1 billion, representing a 14.7% year-over-year growth. Operating income for the full year grew by 20.6% year-over-year, reaching Ps. 8.8 billion. The net income attributable to the Company for the year was Ps. 6.7 billion, up from Ps. 5.2 billion in 2023.
Impact on Consumers
The expansion of Tiendas 3B’s store network will lead to increased competition in the Mexican grocery market. This could result in lower prices for consumers due to the company’s business model of selling goods at discounted prices. Additionally, the company’s focus on providing a wide range of products could lead to more choices for consumers.
Impact on the World
The growth of Tiendas 3B could have a ripple effect on the global retail industry, particularly in emerging markets where discount retailers are gaining traction. The success of the company in Mexico could serve as a model for other retailers looking to expand in similar markets. Additionally, the company’s focus on sustainability, including the use of renewable energy in its stores and the reduction of plastic waste, could influence other retailers to adopt similar practices.
Conclusion
Tiendas 3B’s strong financial performance in 4Q24 and for the full year 2024 is a testament to the company’s ability to expand its retail footprint and deliver value to its customers. The opening of 138 new stores and the resulting increase in sales and operating income demonstrate the company’s growth potential. The impact on consumers and the retail industry as a whole will be significant, with increased competition leading to potential price drops and more choices for consumers. The company’s focus on sustainability could also influence other retailers to adopt similar practices, contributing to a more eco-friendly retail landscape.
- Tiendas 3B opened 138 new stores in 4Q24
- Net sales for the quarter reached Ps. 75.8 billion, up 16.5% YoY
- Operating income for the quarter was Ps. 2.5 billion, up 24.3% YoY
- Net sales for the full year were Ps. 257.1 billion, up 14.7% YoY
- Operating income for the full year was Ps. 8.8 billion, up 20.6% YoY
- Net income attributable to the Company for the year was Ps. 6.7 billion, up from Ps. 5.2 billion in 2023
- Expansion could lead to lower prices and more choices for consumers
- Growth could influence other retailers in emerging markets
- Company’s focus on sustainability could inspire industry-wide changes
