\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n 4Q24<\/b><\/p>\n<\/td>\n | \n As % of
\n
Revenue<\/b><\/p>\n<\/td>\n | \n 4Q23<\/b><\/p>\n<\/td>\n | \n As % of
\n
Revenue<\/b><\/p>\n<\/td>\n | \n Growth (%)<\/i><\/b><\/p>\n<\/td>\n | \n Variation (Bps)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Total Revenue<\/b><\/p>\n<\/td>\n | \n \nPs. 16,347\n<\/p>\n<\/td>\n | \n 100.0%<\/i><\/p>\n<\/td>\n | \n \nPs. 12,316\n<\/p>\n<\/td>\n | \n 100.0%<\/i><\/p>\n<\/td>\n | \n 32.7%<\/i><\/p>\n<\/td>\n | \n n.m.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Gross Profit<\/b><\/p>\n<\/td>\n | \n \nPs. 2,698\n<\/p>\n<\/td>\n | \n 16.5%<\/i><\/p>\n<\/td>\n | \n \nPs. 2,011\n<\/p>\n<\/td>\n | \n 16.3%<\/i><\/p>\n<\/td>\n | \n 34.2%<\/i><\/p>\n<\/td>\n | \n 18 bps<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Sales Expenses<\/b><\/p>\n<\/td>\n | \n \n(Ps. 1,913)\n<\/p>\n<\/td>\n | \n 11.7%<\/i><\/p>\n<\/td>\n | \n \n(Ps. 1,392)\n<\/p>\n<\/td>\n | \n 11.3%<\/i><\/p>\n<\/td>\n | \n 37.4%<\/i><\/p>\n<\/td>\n | \n 40 bps<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Administrative Expenses<\/b><\/p>\n<\/td>\n | \n \n(Ps. 561)\n<\/p>\n<\/td>\n | \n 3.4%<\/i><\/p>\n<\/td>\n | \n \n(Ps. 354)\n<\/p>\n<\/td>\n | \n 2.9%<\/i><\/p>\n<\/td>\n | \n 58.4%<\/i><\/p>\n<\/td>\n | \n 56 bps<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Other (Expense) Income \u2013 Net<\/b><\/p>\n<\/td>\n | \n \nPs. 54\n<\/p>\n<\/td>\n | \n 0.3%<\/i><\/p>\n<\/td>\n | \n \n(Ps. 37)\n<\/p>\n<\/td>\n | \n 0.3%<\/i><\/p>\n<\/td>\n | \n 246.3%<\/i><\/p>\n<\/td>\n | \n 3 bps<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n EBITDA<\/b><\/p>\n<\/td>\n | \n \nPs. 845\n<\/p>\n<\/td>\n | \n 5.2%<\/i><\/p>\n<\/td>\n | \n \nPs. 559\n<\/p>\n<\/td>\n | \n 4.5%<\/i><\/p>\n<\/td>\n | \n 51.1%<\/i><\/p>\n<\/td>\n | \n 63 bps<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n TOTAL REVENUE<\/b><\/p>\n \nTotal revenue for 4Q24 was Ps. 16,347 million, an increase of 32.7% compared to 4Q23. Most of this growth was driven by sales from stores that have been operating for more than one year, and, to a lesser extent, the incremental sales from 484 net new stores opened in 2024.\n<\/p>\n GROSS PROFIT AND GROSS PROFIT MARGIN<\/b><\/p>\n \nGross profit for 4Q24 was Ps. 2,698 million, an increase of 34.2% compared to 4Q23. This increase was driven by sales growth and an improvement in our gross margin of 18 bps to 16.5% mainly due to improved supplier terms as we leveraged our increased scale.\n<\/p>\n EXPENSES<\/b><\/p>\n \nSales expenses primarily reflect the cost of operating our stores, including wages and energy. In 4Q24, sales expenses reached Ps. 1,913 million, a 37.4% increase compared to 4Q23. This growth was driven by (i) an expanded store base requiring additional headcount, (ii) wage inflation, (iii) non-recurring, non-cash accounting recognitions for the full year that impact this quarter, principally related to depreciation and asset write-offs (see Additional Disclosure on page 5). As a percentage of total revenue, sales expenses increased from 11.3% in 4Q23 to 11.7% in 4Q24, an increase of 40 bps.\n<\/p>\n \nAdministrative expenses refer to expenses not directly related to operating our stores, such as headquarters and regional office expenses. For 4Q24, administrative expenses totaled Ps. 561 million, a 58.4% increase compared to 4Q23. This increase reflects (i) the hiring of additional headquarter personnel to support growth, (ii) public company readiness, reporting and compliance costs, (iii) an expansion of regional operations as we opened new regions, and (iv) non-recurring expenses related to the preparation for the February 2025 follow-on offering. As a percentage of revenue, administrative expenses increased from 2.9% in 4Q23 to 3.4% in 4Q24, an expansion of 56 bps.\n<\/p>\n \nOther (expense) income – net, which includes, among other items, revenues (expenses) from non-operative activities such as asset disposals, cost reimbursements, and insurance proceeds, amounted to a net income of Ps. 54 million in 4Q24, compared to a net expense of Ps. 37 million in 4Q23. This variation was driven mainly by incremental income from balance sheet clean-ups such as reversals of inactive liabilities and cancellation of historical cash overages, which were partially offset by write-offs of certain legacy line items and non-recurring legal and compliance expenses. As a percentage of total revenue, other (expense) income \u2013 net remained flat at 0.3% in 4Q24 compared to 4Q23.\n<\/p>\n EBITDA AND EBITDA MARGIN<\/b><\/p>\n \nFor 4Q24, EBITDA reached Ps. 845 million, an increase of 51.1% compared to 4Q23. This increase was mainly driven by higher sales as a result of our net store openings and Same Store Sales growth, improvements in gross profit margin and increases in other income resulting from balance sheet clean-ups. These effects were partially offset by higher administrative expenses. The EBITDA margin for 4Q24 increased by 63 bps to reach 5.2%.\n<\/p>\n \nPlease see the last section of this release on how we calculate EBITDA and EBITDA Margin, which are non-IFRS financial measures.\n<\/p>\n ADDITIONAL DISCLOSURES<\/b><\/p>\n \nTo allow investors to better assess our performance, the Company is providing the following supplementary information:\n<\/p>\n \n- Non-recurring cash expenses<\/b>: The Company incurred non-recurring cash expenses of Ps. 69 million in the quarter, primarily related to the preparation for the follow-on offering and other corporate, legal, compliance, and regulatory matters.\n<\/li>\n<\/ul>\n
\n- Non-recurring non-cash income (expenses): <\/b>The Company recorded a net non-cash benefit of Ps. 91 million in 4Q24 following the annual audit review. This figure reflects the reversal of Ps. 123 million of certain legacy balance sheet items, offset in part by Ps. 33 million in depreciation expenses related to the write-off of fixed assets.\n<\/li>\n
- \nThe combined impact of these items was to increase reported EBITDA by Ps. 56 million (Ps. 123 million less Ps. 69 million).\n<\/li>\n
- Rights-of-use asset depreciation (IFRS 16): <\/b>The Company recognized a one-time, non-cash depreciation of Ps. 93 million related to prior under-recognition of depreciation for IFRS 16 right-of-use assets.\n<\/li>\n
- Building lease payments<\/b>: The Company leases its stores and distribution centers. In accordance with IFRS 16, the Company\u2019s lease expenses are capitalized, and not considered operating expenses. Tiendas 3B\u2019s capitalized lease costs payments for buildings were Ps. 403 million in 4Q24, compared to Ps. 293 million in 4Q23.\n<\/li>\n<\/ul>\n
FINANCIAL COSTS AND NET LOSS<\/b><\/p>\n \nFinancial income totaled Ps. 46 million in 4Q24, up from Ps. 6 million in 4Q23. The increase was primarily driven by interest earned on the cash proceeds from the initial public offering (\u201cIPO\u201d), most of which were invested in short-term, dollar denominated instruments.\n<\/p>\n \nFinancial costs were Ps. 333 million for 4Q24, a 35.8% decrease compared to 4Q23. This decline was primarily driven by the repayment of our promissory notes and convertible notes with the proceeds from our IPO in February 2024. The reduction was partially offset by higher interest expenses on lease liabilities, reflecting the expansion of our store base and distribution center network during 2024.\n<\/p>\n \nThe Company recorded a foreign exchange gain of Ps. 105 million in 4Q24, driven by the Mexican peso depreciation against the U.S. dollar, which positively impacted our U.S. dollar-denominated cash position held from the IPO.\n<\/p>\n \nIncome tax expenses reached Ps. 120 million in the 4Q24 compared to Ps. 14 million in 4Q23.\n<\/p>\n \nAs a result, our net loss for the 4Q24 was Ps. 24 million, compared to a net loss of Ps. 97 million for the 4Q23.\n<\/p>\n FULL YEAR 2024 CONSOLIDATED RESULTS<\/b><\/p>\n \n(In Ps. Million, except percentages)\n<\/p>\n \n\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n | \n As % of
\n
Revenue<\/b><\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n As % of
\n
Revenue<\/b><\/p>\n<\/td>\n | \n Growth (%)<\/i><\/b><\/p>\n<\/td>\n | \n Variation (Bps)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Total Revenue<\/b><\/p>\n<\/td>\n | \n \nPs. 57,439\n<\/p>\n<\/td>\n | \n 100.0%<\/i><\/p>\n<\/td>\n | \n \nPs. 44,078\n<\/p>\n<\/td>\n | \n 100.0%<\/i><\/p>\n<\/td>\n | \n 30.3%<\/i><\/p>\n<\/td>\n | \n n.m.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Gross Profit<\/b><\/p>\n<\/td>\n | \n \nPs. 9,376\n<\/p>\n<\/td>\n | \n 16.3%<\/i><\/p>\n<\/td>\n | \n \nPs. 7,040\n<\/p>\n<\/td>\n | \n 16.0%<\/i><\/p>\n<\/td>\n | \n 33.2%<\/i><\/p>\n<\/td>\n | \n 35 bps<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Sales Expenses<\/b><\/p>\n<\/td>\n | \n \n(Ps. 6,122)\n<\/p>\n<\/td>\n | \n 10.7%<\/i><\/p>\n<\/td>\n | \n \n(Ps. 4,823)\n<\/p>\n<\/td>\n | \n 10.9%<\/i><\/p>\n<\/td>\n | \n 26.9%<\/i><\/p>\n<\/td>\n | \n -28 bps<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Administrative Expenses<\/b><\/p>\n<\/td>\n | \n \n(Ps. 1,987)\n<\/p>\n<\/td>\n | \n 3.5%<\/i><\/p>\n<\/td>\n | \n \n(Ps. 1,387)\n<\/p>\n<\/td>\n | \n 3.1%<\/i><\/p>\n<\/td>\n | \n 43.3%<\/i><\/p>\n<\/td>\n | \n 31 bps<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Other (Expense) Income \u2013 Net<\/b><\/p>\n<\/td>\n | \n \nPs. 61\n<\/p>\n<\/td>\n | \n 0.1%<\/i><\/p>\n<\/td>\n | \n \n(Ps. 36)\n<\/p>\n<\/td>\n | \n 0.1%<\/i><\/p>\n<\/td>\n | \n 268.6%<\/i><\/p>\n<\/td>\n | \n 2 bps<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n EBITDA<\/b><\/p>\n<\/td>\n | \n \nPs. 2,847\n<\/p>\n<\/td>\n | \n 5.0%<\/i><\/p>\n<\/td>\n | \n \nPs. 1,883\n<\/p>\n<\/td>\n | \n 4.3%<\/i><\/p>\n<\/td>\n | \n 51.2%<\/i><\/p>\n<\/td>\n | \n 68 bps<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Please see the explanation at the end of this release on how EBITDA, a non-IFRS financial measure, is calculated, and for other relevant definitions.<\/i><\/p>\n TOTAL REVENUE<\/b><\/p>\n \nTotal revenue for 2024 was Ps. 57,439 million, an increase of 30.3% compared to 2023. In 2024, sales growth was primarily driven by a 25.8% increase in the number of transactions, which increased to 671 million from 533 million in 2023. The average ticket also increased, from Ps. 82.4 to Ps. 85.4, a gain of 3.6%. Most of this growth was driven by sales from stores that have been operating for more than one year, and to a lesser extent, the incremental sales from net new stores opened during the year.\n<\/p>\n GROSS PROFIT AND GROSS PROFIT MARGIN<\/b><\/p>\n \nGross profit for 2024 was Ps. 9,376 million, an increase of 33.2% compared to 2023. This was driven by sales growth and an increase in our gross margin of 35 bps to 16.3%, mainly due to improved supplier terms as we leveraged our growing scale.\n<\/p>\n EXPENSES<\/b><\/p>\n \nIn 2024, sales expenses reached Ps. 6,122 million, a 26.9% increase compared to 2023. This increase in sales expenses was driven by a higher number of stores, as headcount expanded to operate new stores, plus the impact of wage inflation on labor costs. As a percentage of total revenue, sales expenses decreased from 10.9% in 2023 to 10.7% in 2024, a decrease of 28 bps.\n<\/p>\n \nFor 2024, administrative expenses reached Ps. 1,987 million, a 43.3% increase compared to 2023. This increase was due to (i) the hiring of additional headquarter personnel to support growth, (ii) public company readiness, reporting and compliance costs, (iii) expansion of regional operations as we opened new regions, and (iv) non-recurring expenses, mainly related to the IPO. As a percentage of total revenue, administrative expenses increased from 3.15% in 2023 to 3.46% in 2024, for an increase of 31 bps.\n<\/p>\n \nOther (expense) income \u2013 net amounted to Ps. 61 million in income for 2024, compared to an expense of Ps. 36 million in 2023. The year-over-year improvement primarily reflects non-recurring gains from balance sheet clean-ups such as reversals of inactive liabilities and cancellation of historical cash overages, which were partially offset by write-offs of legacy line items and non-recurring legal and compliance expenses. In contrast, the 2023 figure included impairment charges related to stores affected by Hurricane Otis in Acapulco. As a percentage of total revenue, other (expense) income \u2013 net remained flat at 0.1% in 2024 compared to 2023.\n<\/p>\n EBITDA AND EBITDA MARGIN<\/b><\/p>\n \nFor 2024, EBITDA reached Ps. 2,847 million, an increase of 51.2% compared to 2023. The EBITDA Margin moved from 4.3% in 2023 to 5.0% in 2024, an expansion of 68 bps. This increase was attributable to higher sales as a result of our net store openings and Same Store Sales growth, as well as improvements in gross profit margin, sells expenses, which were offset by the impact of non-recurring factors discussed below and the increase in expenses mainly attributed to our transition to becoming a public company.\n<\/p>\n \nPlease see the last section of this release on how we calculate EBITDA and EBITDA Margin, which are non-IFRS financial measures.\n<\/p>\n 2024 ADDITIONAL DISCLOSURES<\/b><\/p>\n \nTo allow our investors to better assess our performance, we are providing the following information:\n<\/p>\n \n- Non-recurring cash expenses: <\/b>The Company incurred non-recurring cash expenses totaling Ps. 139 million, primarily related to the IPO and to the preparation for the follow-on offering and other corporate, legal, compliance and regulatory matters.\n<\/li>\n
- Non-recurring non-cash income (expenses): <\/b>The Company recorded a net non-cash benefit of Ps. 91 million in 2024, booked in 4Q24, following the annual audit review. This figure reflects the reversal of Ps. 123 million in certain legacy balance sheet items, offset by Ps. 33 million in depreciation expenses related to the write-off of fixed assets.\n<\/li>\n
- \nThe combined impact of these items was to decrease reported EBITDA by Ps. 16 million (Ps. 123 million less Ps. 139 million).\n<\/li>\n
- Rights-of-use asset depreciation (IFRS 16): <\/b>As disclosed in the 4Q24 section above, the Company recognized a one-time, non-cash depreciation of Ps. 93 million related to prior under-recognition of depreciation for IFRS 16 right-of-use asset.\n<\/li>\n
- Building lease payments: <\/b>The Company leases its stores and distribution centers. In accordance with IFRS 16, the Company\u2019s lease expenses are capitalized, and not considered operating expenses. Tiendas 3B\u2019s capitalized lease costs payments for buildings were Ps. 1,542 million in 2024, compared to Ps. 1,072 in 2023.\n<\/li>\n<\/ul>\n
FINANCIAL COSTS AND NET PROFIT<\/b><\/p>\n \nFinancial income totaled Ps. 156 million in 2024, an increase of 498% compared to 2023. The increase was primarily driven by interest earned on the cash proceeds from the IPO.\n<\/p>\n \nFinancial costs were Ps. 1,257 million in 2024, a decrease of 17.7% compared to 2023. This variance was primarily attributable to two key factors: (i) the increase in interest expenses related to lease liabilities; and (ii) a reduction in financing costs associated with our promissory notes and convertible notes, which had been outstanding in 2023 but were fully repaid in February 2024 using proceeds from our IPO.\n<\/p>\n \nIn 2024, we recorded a foreign exchange gain of Ps. 490 million, primarily driven by our USD-denominated investments.\n<\/p>\n \nOur income tax expenses reached Ps. 383 million in 2024 compared to Ps. 205 million in 2023.\n<\/p>\n \nAs a result, our net profit for 2024 was Ps. 334 million, compared to a net loss of Ps. 306 million for 2023.\n<\/p>\n BALANCE SHEET AND LIQUIDITY<\/b><\/p>\n \nAs of December 31, 2024, the Company reported cash and cash equivalents of Ps. 1,447 million an increase from Ps. 1,220 million as of December 31, 2023. In addition, as of December 2024, the Company held Ps. 3,059 million in U.S. dollar-denominated short-term bank deposits. The Company considers an exchange rate as of December 31, 2024 of Ps. 20.268.\n<\/p>\n CASH FLOW STATEMENT FOR 2024<\/b><\/p>\n \n(In Ps. Million, except percentages)\n<\/p>\n \n\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n Growth (%)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Net cash flows provided by operating activities<\/b><\/p>\n<\/td>\n | \n \nPs. 3,749\n<\/p>\n<\/td>\n | \n \nPs. 3,140\n<\/p>\n<\/td>\n | \n 19.4%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Net cash flows used in investing activities<\/b><\/p>\n<\/td>\n | \n \n(Ps. 4,907)\n<\/p>\n<\/td>\n | \n \n(Ps. 1,779)\n<\/p>\n<\/td>\n | \n 175.9%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Net cash flows provided by (used in) financing activities<\/b><\/p>\n<\/td>\n | \n \nPs. 1,288\n<\/p>\n<\/td>\n | \n \n(Ps. 1,096)\n<\/p>\n<\/td>\n | \n n.m.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Net (decrease) increase in cash and cash equivalents<\/b><\/p>\n<\/td>\n | \n \nPs. 129\n<\/p>\n<\/td>\n | \n \nPs. 266\n<\/p>\n<\/td>\n | \n -51.3%<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nOur business model continues to generate a significant amount of cash from our negative working capital cycle due to our increasing sales, and high inventory turnover relative to payment terms. This robust cash flow has enabled us to fund internally our growth initiatives, including the expansion of new stores and distribution centers.\n<\/p>\n \nThe information provided below offers a view of our cash flow activities in 2024:\n<\/p>\n \nNet cash flows provided by operating activities increased to Ps. 3,749 million for 2024 from Ps. 3,140 million for 2023. Our net working capital continues to be driven by a favorable ratio of Inventory Days to Payable Days.\n<\/p>\n \nNet cash flows used in investing activities were Ps. 4,907 million for 2024, compared to Ps. 1,779 million in 2023. This is primarily due to the investment of IPO proceeds in short-term bank investments, and to a lesser extent to increases in property, plant & equipment (PP&E) in connection with the opening of new stores and two distribution centers.\n<\/p>\n \nNet cash flows provided by financing activities were Ps. 1,288 million for 2024, compared to Ps. Ps. 1,096 million used for 2023, and consisted mainly of IPO proceeds, which were offset by the repayment of the promissory and convertible notes.\n<\/p>\n KEY ANNUAL OPERATING METRICS<\/b><\/p>\n\n\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2024<\/b><\/p>\n<\/td>\n | \n 2023<\/b><\/p>\n<\/td>\n | \n Variation (%)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Number of Stores Opened<\/b><\/p>\n<\/td>\n | \n \n484\n<\/p>\n<\/td>\n | \n \n396\n<\/p>\n<\/td>\n | \n 22.2%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Number Distribution Centers<\/b><\/p>\n<\/td>\n | \n \n16\n<\/p>\n<\/td>\n | \n \n14\n<\/p>\n<\/td>\n | \n 14.3%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Same Store Sales Growth (%)<\/b><\/p>\n<\/td>\n | \n \n13.4%\n<\/p>\n<\/td>\n | \n \n17.6%\n<\/p>\n<\/td>\n | \n n.m.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Private label Sales Products (% of Sales of Merchandise)<\/b><\/p>\n<\/td>\n | \n \n53.6%\n<\/p>\n<\/td>\n | \n \n46.5%\n<\/p>\n<\/td>\n | \n 710 bps<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Average Ticket Size (1)<\/sup><\/b><\/p>\n<\/td>\n| \n \nPs. 85.4\n<\/p>\n<\/td>\n | \n \nPs. 82.4\n<\/p>\n<\/td>\n | \n 3.6%<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n Transaction Number (2)<\/sup><\/b><\/p>\n<\/td>\n| \n \n26,821\n<\/p>\n<\/td>\n | \n \n25,635\n<\/p>\n<\/td>\n | \n 4.6%<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n| (1)<\/i><\/td>\n | \u00a0<\/td>\n | \n We calculate \u201cAverage Ticket Size\u201d by dividing revenue from Sales of Merchandise by the total number of transactions.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| (2)<\/i><\/td>\n | \u00a0<\/td>\n | \n Number of transactions is derived from stores that have been operating for 5+ years.<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nDuring 2024, we opened 484 stores compared to the 396 stores we opened in 2023. In 4Q24 we opened 138 stores. To support the incremental number of stores, in 2024 we opened two additional distribution centers.\n<\/p>\n \nSame Store Sales grew by 11.8% for 4Q24, compared to 14.9% for 4Q23. For the year 2024, Same Store Sales increased by 13.4%, compared to 17.6% for 2023. The slowdown in Same Store Sales growth reflects in good part the decrease in inflation from 2023 to 2024.\n<\/p>\n \nOur private label offering continues to gain as a share of sales of merchandise. The share of revenue from private labels increased from 46.5% in 2023 to 53.6% in 2024.\n<\/p>\n STORE PERFORMANCE BY VINTAGE<\/b><\/p>\n Median Sales per Store Vintage (1)<\/sup><\/b><\/p>\n\nPs. million | Median 12-Month Period (2)<\/sup> Sales per Store (3)<\/sup> in Real Terms (4)<\/sup><\/p>\nSource: Company Information. INEGI<\/i><\/p>\n\n\n| (1)<\/i><\/td>\n | \u00a0<\/i><\/td>\n | \n 12-month period since opening, excludes month 1. (i.e., period 1 is from month 2 through month 13 since opening.)<\/i><\/p>\n<\/td>\n<\/tr>\n\n| (2)<\/i><\/td>\n | \u00a0<\/i><\/td>\n | \n Median 12-month period sales of all stores in the corresponding vintage (excludes first month to \u201cnormalize\u201d dates in which stores are operational since opening). Closed stores are excluded from medial calculation.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| (3)<\/i><\/td>\n | \u00a0<\/i><\/td>\n | \n All figures in real Mexican pesos terms as of December 31, 2022, adjusted for inflation using Mexican National Consumer Price (\u00edndice Nacional de Precios al Consumidor), as provided by the Mexican Statistic and National Geography Institute (Instituto de Estad\u00edstica y Geograf\u00eda), and as published by Banco de M\u00e9xico.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| (4)<\/i><\/td>\n | \u00a0<\/i><\/td>\n | \n Number of stores opened in the corresponding vintage that remain open as of December 2022.<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Median Sales per Store Vintage (1)<\/sup><\/b><\/p>\n\nPs. million | Median 12-Month Period (2)<\/sup> Sales per Store (3)<\/sup> in Real Terms (4) <\/sup>| Excluding Temporary Closures in Acapulco\n<\/p>\nSource: Company Information. INEGI<\/i><\/p>\n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
![\"Spagetti:](\"https:\/\/mms.businesswire.com\/media\/20250409391149\/en\/2435005\/4\/Spagetti_Ex_Acapulco.jpg\")
<\/p>\n