Grupo Famsa, S.A.B. De C.V. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
March 02, 2021 at 07:16 am EST
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Grupo Famsa, S.A.B. De C.V. Announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced sales was MXN 1,029.610 million compared to MXN 3,763.890 million a year ago. Operating loss was MXN 810.111 million compared to operating Income of MXN 149.235 million a year ago. Net loss was MXN 1,994.774 million compared to net income of MXN 456.717 million a year ago. For the full year, sales was MXN 6,567.355 million compared to MXN 14,206.257 million a year ago. Operating loss was MXN 1,270.117 million compared to operating Income of MXN 1,523.853 million a year ago. Net loss was MXN 15,803.410 million compared to net income of MXN 486.880 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. 
