Financial Data and Key Metrics Changes - Total revenues increased by 36.7% year-over-year, reaching MXN 20.3 billion [4][5] - Same-store sales grew by 17.9%, driven by improvements in the value proposition [4][5] - EBITDA reported a loss of MXN 404 million, but excluding non-cash share-based payments, EBITDA increased by 43.6% to a positive MXN 1.2 billion [4][5] Business Line Data and Key Metrics Changes - The company opened 131 net new stores in the quarter, totaling 3,162 stores, with 390 stores opened in the first nine months of 2025 compared to 346 in the same period last year [4][5] - Cash flow generated by operating activities reached MXN 3 billion, a 30% increase year-on-year [5] Market Data and Key Metrics Changes - The gap versus ANTAD continues to increase, now almost 17 percentage points [6] - The company is one of the fastest-growing retailers globally, with significant room for expansion in Mexico, targeting a total of 14,000 stores [10] Company Strategy and Development Direction - The company focuses on continuous improvement of its value proposition, which is driving same-store sales growth [10] - There is a strong emphasis on talent investment as a key success factor, with a high talent density within the team [11] - The company plans to continue expanding its store network and product offerings while maintaining operational efficiency [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong sales growth, driven by product improvements and a robust pipeline [45] - The company anticipates that margins will improve over time due to better purchasing terms and logistics efficiency [14][15] - Management noted that the competitive landscape remains strong but healthy, with no significant changes in competition [37] Other Important Information - The company has a net cash position of approximately MXN 1.1 billion and $151 million in short-term deposits [5] - Share-based compensation has been a key driver of attracting talent and aligning interests with shareholders [11] Q&A Session Summary Question: Comments on gross margin and market share - Management indicated that margins will improve as purchasing costs decrease and logistics efficiency increases, with a focus on enhancing the value proposition [14][15] Question: Maturation of new store vintages - New store vintages are maturing faster than expected, leading to improved returns on invested capital [23][24] Question: Sales expenses and regional performance - Management expects more favorable comparisons for sales expenses in the next quarter and noted consistent performance across regions [29][32] Question: Product development and customer journey - The customer journey typically starts with basic goods, leading to increased basket sizes as customers try new products [57][60] Question: Interest from larger players - Management stated there has been no significant interest from larger national or international players regarding a potential acquisition [86]