Tiendas 3B Delivers Strong Q2 Results with Record Store Openings and Revenue Growth
Tiendas 3B, a leading retailer, has reported another strong quarter in its second quarter of 2026 conference call. The company's Chairman and Chief Executive Officer, Anthony Hatoum, and Chief Financial Officer, Eduardo Pizzuto, highlighted the key highlights from their quarterly results.
One of the most notable achievements was the opening of 155 net new stores during the quarter, bringing the total store count to 3,624 as of June 30, 2026. This represents a significant increase in the company's store base, with over 593 net new stores opened in the last 12 months.
The same-store sales grew 20% compared to the second quarter of 2025, while total revenue increased by 39% year-over-year to MXN 26 billion. The reported EBITDA reached MXN 960 million, with an adjusted EBITDA margin increase of 21 basis points year-over-year.
Tiendas 3B's operational performance remained strong, with the company continuing to balance densifying its presence in existing regions while selectively expanding its footprint in others. The revenue growth was driven by ongoing improvements to their value proposition, increasing brand awareness, and growing customer loyalty.
The same-store sales performance continued to significantly outperform the market, maintaining a gap of more than 20 percentage points versus ANTAD, while internal inflation remained very low. Eduardo Pizzuto highlighted that sales expenses as a percentage of revenue decreased by 56 basis points to 10% year-over-year in the second quarter of 2026.
The company's adjusted negative working capital reached MXN 10.2 billion compared to MXN 7.1 billion in 2025, excluding IPO and follow-on proceeds. This strong operating cash flow is expected to continue driving the company's growth.
Tiendas 3B's CEO, Anthony Hatoum, emphasized that their business model generates strong operating cash flow through a structurally negative working capital model. He stated that this will naturally continue to increase over time, driven by disciplined execution and the company's continued focus on expansion and operational efficiency.
