BBB Foods Inc., a Mexican discount store famous for its Tiendas 3B shops, has seen its stock value go up a lot. This increase is the biggest since the company first started selling shares to the public in February.
After announcing its results for the last three months of the year, the company’s stock rose by 12% to $23.11. The results showed that sales in stores that have been open for at least a year grew by nearly 15%. Since it started being traded on the stock market, the price of BBB Foods’ shares has gone up by more than 32%.
BBB Foods has been working on expanding its business. In 2023, it opened a record 396 stores, with almost 40% of them opening in the last three months of the year. This has increased the total number of stores to almost 2,300.
The CEO and founder, Anthony Hatoum, said they plan to keep growing. They want to open up to 420 new stores in the next year. Their goal is to eventually have 12,000 stores.
During a discussion with experts, Hatoum stressed how important it is for the company to focus on making its brands. He thinks these products give customers better quality and more bang for their buck. This plan is key to driving the expected growth in sales at stores that have been open for a while for the next year.
BBB Foods’ way of doing things is similar to Aldi, a successful discount store in Germany. They sell a limited range of products, from snacks to cleaning stuff, at competitive prices. This method has made things smoother for BBB Foods and has helped it stand out in the tough retail market by offering special deals through its brands.
BBB Foods had a successful start when it went public, raising $677 million. It’s the first Mexican company focused on consumers to do this since 2016 when Becle, a tequila maker, did the same.
This achievement has given investors a new opportunity to be part of Mexico’s growing market. Analyst Hector Maya from Scotiabank pointed out how promising BBB Foods looks, mentioning its potential to grow and make more profit.
Maya’s recommendation to buy the company’s stock shows that people are optimistic about BBB Foods’ finances and its place in the retail world.
