Grupo Comercial Ched Ord (GCHEF) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning to all participants, and welcome to Grupo Comercial Cheddaray, third quarter 2024 conference call. Participating in the conference call today will be Mr. Jose Antonio Cheddaray, CEO of Grupo Comercial Cheddaray, Mr. Carlos Smith, CEO of Cheddaray USA, Umberto Tafu, CFO, and Arturo Valesquez, IRO for the company. We will begin the call with initial comments on Grupo Comercial Cheddaray, Third quarter financial results by the company's CEO, Mr. Jose Antonio Chedera. Thank you. You may begin. Good morning to all. and welcome to our presentation of Grupo Comercial Chedraui's third quarter 2024 results. I want to recognize the continued dedication of our employees to effectively execute the three main pillars of our strategy, providing our customers with the products they want, offering the lowest price, and delivering an exceptional customer experience. The commitment to these pillars has been the key driver of our market share gain during the third quarter. In Mexico, our customers continue to prefer shopping at our stores, as evidenced by our same-store sales performance, which has exceeded Antat's results for the 17th consecutive quarter. In the U.S., El Super and Fiesta Mart continue to drive same store sales growth for Chedraui USA. These formats achieved combined mid single digit growth compared to the previous year. For Chedraui USA, we're pleased to announce that in July, we began operations of our new distribution center located in Rancho Cucamonga, California. We're currently in the process of migrating five legacy distribution centers into the state-of-the-art 1.4 million square foot facility. This new facility will provide a critical long-term foundation for Chedraui USA as it will allow us to grow El Super and Smart & Final in the medium and lon...