Home Business-newBusiness Mexican restaurant chain operator Alsea’s sales grow in high single digits

Mexican restaurant chain operator Alsea’s sales grow in high single digits

by Yucatan Times
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Mexican restaurant chain operator Alsea sees like-for-like sales growth in the high single digits in 2024, its Europe finance chief Federico Rodriguez said on Tuesday, Feb. 27th.

Rodriguez, who Alsea announced earlier on Tuesday would take over as the company’s chief financial officer in March, made the comment a day after Alsea announced a 37% jump in fourth-quarter net profit on the back of an uptick in sales.

Shares in Alsea in Mexico’s main stock index were up over 3% in early trading on Tuesday.

The company, which operates chain stores including Starbucks, Burger King, and Domino’s Pizza, said it would provide further guidance at a March 13 event in Mexico City.

Rodriguez also said that in Mexico, the source of roughly half of Alsea’s sales, the company does not expect its labor margin to be effected by a minimum wage hike or a possible upcoming reduction in the work week in 2024.

Regarding the management changes, Alsea indicated on Tuesday that outgoing CFO Rafael Contreras will continue to be part of the organization after stepping down from his current role.

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