Grupo Famsa, S.A.B. De C.V. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
February 24, 2020 at 07:09 am EST
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Grupo Famsa, S.A.B. De C.V. Announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced sales was MXN 5,597.711 million compared to MXN 5,776.611 million a year ago. Operating income was MXN 540.746 million compared to MXN 159.322 million a year ago. Net income was MXN 456.976 million compared to net loss of MXN 560.212 million a year ago. For the full year, sales was MXN 20,534.793 million compared to MXN 19,885.550 million a year ago. Operating income was MXN 1,574.354 million compared to MXN 1,158.901 million a year ago. Net income was MXN 487.139 million compared to net loss of MXN 409.721 million a year ago.
Grupo Famsa SAB de CV is a Mexico-based holding company primarily engaged in retail sector. The Company owns and operates a network of Famsa Mexico department stores located in Mexican cities, as well as Famsa USA stores established in the United States. Via its retail network, the Company is active in the import, distribution and sale of household appliances, furniture and consumer electronics, among others. Through Banco Ahorro Famsa SA Institucion de Banca Multiple, the Company is also involved in the provision of a variety of banking and sales financing services to its retail customers.
GRUPO FAMSA, S.A.B. DE C.V. 
