This has been a pretty miserable stretch for most Mexican retailers, as sluggish employment trends, new taxes, and lower remittances have all dinged confidence and spending. To the extent that having the best house in a rough neighborhood should matter, FEMSA (NYSE:FMX) ought to be getting a little more respect in the market. Management was cautious and conservative on the call (as they often are), but this company continues to run some of the best-positioned businesses in Mexico, and is worth a closer look as the Mexican economy starts to turn up.
A Good Job In A Bad Quarter
FEMSA management did a good job of steering expectations to manageable/beatable levels this quarter. Results weren't perfect, but they...
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