FEMSA Posts Double-Digit Growth at OXXO, Joins Global ESG Index

Summary: FEMSA's OXXO México chain posted 11.8% revenue growth and a 12.3% rise in operating profit in 2Q2026, marking a return to positive customer traffic after several quarters of decline, driven by pricing adjustments, category execution and a FIFA World Cup sales boost. Simultaneously, FEMSA and Coca-Cola FEMSA became the only Mexican food and beverage companies included in the Dow Jones Best-in-Class World Index 2026, with Coca-Cola FEMSA scoring the fourth-highest sustainability rating globally in its sector. The dual milestones signal FEMSA's strengthening retail execution alongside a maturing ESG strategy that could enhance its access to global institutional capital.

FEMSA delivered a strong 2Q2026 for its OXXO convenience store chain in Mexico while also securing new international recognition for its sustainability performance, as both FEMSA and Coca-Cola FEMSA were named to a leading global ESG benchmark.

OXXO México reported revenue of MX$86.708 billion in 2Q2026, an annual increase of 11.8%, supported by a 9.5% rise in same-store sales and a 3.5% expansion of its store network. Operating profit climbed 12.3% to MX$8.649 billion, while customer traffic grew 2.0% and average ticket size rose 7.4%.

OXXO Recovers Customer Traffic

José Antonio Fernández Garza, FEMSA's Chief Executive Officer, said OXXO México "achieved double-digit growth in revenue and profit" and returned to positive customer traffic growth after several quarters of decline. He attributed the turnaround to stronger national execution, commercial initiatives in key categories and a consumer-focused strategy launched in the second half of 2025.

During the quarter, the chain adjusted product variety and pricing in consumption and traffic-driving categories, using affordability strategies to compete with other retail channels. Growth in services and the effect of the FIFA World Cup, including sales of Panini stickers, also contributed to the improvement. Traffic gains were seen across all regions despite weak consumer spending, adverse weather and the calendar effect of Holy Week.

Average ticket growth above inflation reflected changes in product mix and a special tax applied to beverages and cigarettes. OXXO closed June with 24,708 stores in Mexico after adding 253 units during the quarter and 832 over the past 12 months. FEMSA reported higher quarterly capital expenditure for the chain due to the pace of new store openings, though semiannual investment was lower amid more moderate expansion than a year earlier.

Pricing Actions Squeeze Margin, Boost Efficiency

Pricing and rationalization actions in traffic-generating categories reduced gross margin by 70 basis points to 44.8%. However, revenue growth, operating leverage and cost-containment measures allowed operating margin to rise 10 basis points to 10.0%. Operating expenses increased 9.6%, below revenue growth, though labor and expansion costs remained elevated.

Within the store's broader ecosystem, loyalty program Spin Premia reached 29.1 million active users, with 50.4% of OXXO México sales involving points accumulation or redemption, up from 45.8% a year earlier. For the second half of 2026, FEMSA anticipates a more moderate growth trajectory due to weaker consumer spending and the absence of the World Cup boost.

FEMSA, Coca-Cola FEMSA Join Global Sustainability Index

In other related news, FEMSA and Coca-Cola FEMSA were included in the Dow Jones Best-in-Class World Index 2026, positioning them as the only Mexican companies in the food and beverage sector recognized in their respective categories within the global sustainability benchmark compiled by S&P Dow Jones Indices. The index includes the top 10% of the approximately 2,500 largest companies evaluated under the S&P Global BMI based on sustainability performance, reported MBN. 

For FEMSA, the inclusion marks its second consecutive year in the index, reinforcing a milestone first achieved in 2024 when it became one of the first Mexican companies in more than 25 years to enter the ranking. Coca-Cola FEMSA joined the index for the first time after obtaining a historic score of 81 points in S&P Global's Corporate Sustainability Assessment, the fourth-highest result globally within its sector.

Jessica Ponce de León, FEMSA's Sustainability Director, said the company's sustainability approach is embedded in its operations and decision-making across the more than 18 countries where it operates, calling the recognition confirmation of a long-running strategy. Coca-Cola FEMSA also entered the Dow Jones Best-in-Class MILA Pacific Alliance Index, a regional sustainability benchmark, with Catherine Reuben, the company's Vice President of Corporate Affairs, describing the achievement as a milestone reflecting a sustainability strategy integrated into the business.

During 2025, Coca-Cola FEMSA expanded initiatives focused on water management, climate action, circular economy practices and employee safety. The company also adopted international reporting standards aligned with IFRS S1 and S2, as well as the Taskforce on Nature-related Financial Disclosures, becoming one of the first beverage companies in Latin America to incorporate biodiversity and natural capital risks into its sustainability reporting.

FEMSA, which operates in more than 18 countries and employs over 380,000 people, strengthened ESG integration across its business units through governance structures focused on sustainability, inclusion and diversity, alongside improvements in energy management, waste reduction and supply chain performance.

Momentum Across Retail and Sustainability

Analysts note that inclusion in international sustainability indices can improve access to institutional capital and foreign investment as global investors increasingly prioritize measurable ESG performance, particularly for Latin American companies seeking greater representation in rankings historically dominated by European and North American corporations. Coca-Cola FEMSA's scale as the largest Coca-Cola bottler by volume gives it influence across supply chains in more than 10 countries, supporting the adoption of recycling systems, clean technologies and water efficiency measures.

Together, the quarterly results and the ESG recognition point to a company strengthening its core retail business while building out sustainability credentials that could support broader access to global capital markets.