MEXICO CITY, Jan. 16, 2023 /PRNewswire/ — Grupo Comercial Chedraui, S.A.B. de C.V. announces its guidance for fiscal year 2023 for Mexico and the United States:
- For 2023, we expect Mexico same-store sales growth between 7% and 8%. Total sales are forecasted to grow between 15% and 16% due to new store openings and the consolidation of the Arteli acquisition. The sum of these will result in achieving two-year growth of more than 33% and which demonstrates the Company’s capacity for continued development.
- For Chedraui USA, 2023 same store sales are expected to grow 5% at both Smart & Final and the Hispanic division. For total sales, we forecast growth of 5.5% in USD.
- Total CapEx for 2023 is estimated at approximately 2.8% of consolidated revenue, which will result in sales floor expansion in Mexico by approximately 3.6%, and 1.4% in the United States. For the entire Company, 2023 sales floor is expected to grow by 2.8%.
- Our Mexican expansion plan considers the opening of 7 Tienda Chedraui, 3 Super Chedraui and 50 Supercito, while in the United States we plan to open 3 Smart & Final and 1 El Super for a total of 4 openings.
- For 2023, we forecast 10 to 15 basis point EBITDA margin expansion in Mexico, while maintaining the same margin in the Real Estate Division. A 20 basis point expansion in EBITDA margin is projected for the Chedraui USA operation.
- By the end of 2023, our goal is to achieve a Net Bank Debt / EBITDA ratio close to zero, given the projected outstanding…
