April 29, 2020 / 10:29 PM / a month ago

Mexico's Alsea reports $16 mln loss in first quarter

MEXICO CITY, April 29 (Reuters) - Mexican restaurant operator Alsea on Wednesday reported a net loss of 390 million pesos ($16.4 million) in the first quarter, compared with a net profit of 151 million pesos in the year-earlier period.

The company, which operates franchises of coffee chain Starbucks in various markets worldwide, posted net sales in the January to March period of 12.1 billion pesos, down 11.5% from the first quarter of last year. ($1 = 23.7980 pesos at end-March) (Reporting by Daina Beth Solomon and Noe Torres)

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