EN CHEDRAUI CUESTA MENOS

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Shareholder InformationTABLE OF CONT<strong>EN</strong>TsAbout us 1Financial Highlights 4Shareholders´ Letter 5Our Mission 8Mexican Retail 10U.S. Retail 14Real Estate Operations 18Social Responsibility 20Management´s Discussion & Analysis 24Senior Excecutives 26Board of Directors 28Auditing and Corporate PracticesCommittee Report 29Independent Auditors’ Report 31Consolidated Financial Statements 32CORPORATE HEADQUARTERSMexico HeadquartersAv. Constituyentes N° 1150Col. Lomas Altas11950 Mexico, D.F. MexicoTel.: +52 (55) 1103 8000Xalapa HeadquartersPriv. Antonio Chedraui Caram N° 248Col. Encinal91180 Xalapa, Ver.Tel.: +52 (228) 842 1100www.chedraui.com.mxSTOCK EXCHANGEMexican Stock Exchange (BMV): ticker CHDRAUIAUDITORGalaz Yamazaki , Ruiz Urquiza, S.C.(Deloitte Touche Tohmatsu)INVESTOR RELATIONS AND CORPORATEINFORMATIONJesús Arturo Velázquez DíazInvestor Relations and Corporate InformationTel.: +52 (228) 842 1117avelazquez@chedraui.com.mxDesign by 33Visual • Printed by Earthcolor, HoustonThis annual report may contain future projectionsabout Grupo Comercial Chedraui S.A.B.de C.V. and its subsidiaries based on assumptionsmade in good faith by management.Such information, as well as any statementsabout future events and expectations, aresubject to risks and uncertainties as wellas factors that could cause the results, performanceor profits of the Company to becompletely different at any time in the future.Such factors include changes in generaleconomic conditions, domestic and internationalgovernmental and/or business policiesas well as changes in interest rates, inflationand volatility in foreign exchange rates, etc.Because of these risks and factors, actualresults could vary materially from the estimatespresented in this document. GrupoComercial Chedraui, S.A.B. de C.V. does notaccept responsibility for any such changes.This reportwas printed inrecycled paperPRINTED USING100% WIND <strong>EN</strong>ERGYSupplied by Community Energy
ABOUT USWho we areChedraui is a leading Mexican retailer with operationsin Mexico and the United States. InMexico, we operate two formats distinguishedby size and product offerings to target differentcities and market niches: 120 Chedraui storesand 36 Super Chedraui stores. In the U.S. we operate34 El Super stores. Through our real estateoperations, we also administer our propertiesand develop new locations.What differentiates us as a retailerFirst, the lowest prices. We are truly committed toeveryday lowest prices for each product we sell, andmake daily price adjustments to ensure it.Second, product selection. We carry a full range ofbrands within each product category and tailor storeselection by climate, region, socioeconomics and clientpreference.What differentiates us as an investment• Mexico’s fourth largest retailer with growingnational presence and dominant footprint in thesoutheast.• Same store sales growth above industry average;strong consistent record of revenue growth, increasingmarket share, healthy financial position.• Highly efficient operations with attractive storeproductivity and ROIC.• Compelling growth potential in both core markets:Mexico is fragmented with low supermarket penetration;the target Mexican-American population inthe U.S. is fast growing.• Experienced management team with significantM&A experience.Third, shopping experience. Our stores are clean,modern and well labeled, and our associates providesuperior customer service.The title of this report,“En Chedraui Cuesta Menos”,is also our corporate tagline andthe essence of who we are.It translates to“It costs less at Chedraui.”
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