Mexico's BBB Foods Rises by Most Since IPO After First Report [BNN Bloomberg (Canada)]
International Business Machines Corporation (IBM)
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Source: BNN Bloomberg
Shares of the operator of Tiendas 3B stores rose 12% to $23.11 after the company reported same-store sales growth in the fourth quarter of nearly 15%. The stock is up over 32% since its debut. The company opened a record 396 stores during 2023, with nearly 40% inaugurated in the fourth quarter, to reach a total nearly 2,300 locations, CEO and founder Anthony Hatoum said in a call with analysts. BBB Foods is planning to open as many as 420 more stores this year while same-store sales are projected to grow in the mid-teens as word spreads about its growing private-label goods offerings, he said. “We have more private labels, we have better quality private labels, and we're giving our customers more value for money,” Hatoum said, adding that he expects the company to expand to 12,000 stores. Read More: Mexico Retailer BBB Jumps Up to 20% as IPO Upswing Continues Following the business model of German discount chain Aldi, 3B stocks a limited variety of products — ranging from sna
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