Grupo Gigante S. A. B. de C. V

What it is

Since 1962, Grupo Gigante has operated across three divisions — Specialized Retail, Hospitality, and Real Estate — with 16 brands spanning 931 business units in seven countries. The supermarkets that made the name famous are long gone, sold to rival Soriana in 2007; what remains is a diversified holding company that serves Mexicans buying office supplies, eating out, shopping for a pet, or renting space in a mall.

Specialized retail — Office Depot, RadioShack, Marchand stationery, and related chains — still represents roughly 70% of group sales. Restaurants include Toks, Shake Shack, Panda Express, and El Farolito, while the real-estate arm develops and leases commercial properties and shopping centres.

Who owns it

Ángel Losada Gómez was born in Spain in 1908 and founded the first Gigante store in Mexico City in 1962. The Losada family owns 61.1% of Grupo Gigante’s shares, held partly directly and partly through trusts.

That bloc matches the structured data’s 61.3% insider figure exactly, leaving a free float of roughly 29% — thin enough to make the stock relatively illiquid for large outside buyers.

Within the family group, Ángel Losada Moreno personally holds 13.3% of the shares. Other significant personal stakes include Gonzalo Barrutieta Losada at 6.58% and three Arsuaga Losada siblings at 4.38% each.

Institutions account for a further 9.7% (structured data).

Who runs it

Ángel Losada Moreno, son of the founder, has served as Executive Chairman of the Board since 2003. Federico Bernaldo de Quirós González Pacheco has been Chief Executive Officer since January 2018.

Day-to-day operations therefore sit with a professional manager, while the family retains strategic control from the boardroom.

The CFO and Administrative Officer role is held by Rodrigo Sandoval Navarro, while Juan Carlos Alverde Losada leads the restaurant subsidiary Grupo Restaurantero Gigante. The third generation of the Losada family now occupies leadership roles across several subsidiaries.

The money, in plain words

For every MXN 100 (US$6)of goods and meals it sells, the company keeps about MXN 5.60 (US$0.32)as profit — a net margin of 5.6%, modest but stable for a diversified retail and hospitality operator. Revenue grew 5.1% in fiscal 2024, then slowed to 2.2% in fiscal 2025 (our calculations), as a stronger peso and cautious consumers squeezed comparable-store sales.

For every peso that shareholders have put into the business, it earns about 7.5 pesos back annually — a return on equity of 7.5%, adequate but not exceptional. The balance sheet is clean: Petco grew sales 12.9% in 2025 and the group carries MXN 3.94bn (US$227m) in cash against no disclosed financial debt (our calculation), giving it a net cash position that supports both store openings and dividends.

At a price-to-earnings ratio of 14.8× and a dividend yield of 1.4%, the stock is priced as a steady, family-controlled compounder rather than a growth story.

What it is doing now

The group is quietly shrinking its weakest format while expanding its strongest. RadioShack fell from 149 locations in 2022 to just 16 by Q1 2026, while Office Depot trimmed 26 stores over the same stretch.

Beer Factory’s five restaurants were closed permanently in 2024, and The Home Store outlets were converted to the Casaideas home-goods format.

While RadioShack is down to 16 stores, Petco reached 156 locations by Q1 2026, and Shake Shack has grown to 21 outlets in Mexico. In Q1 2026 revenue was essentially flat — up just 0.2% — with comparable sales up 1.4% but net profit down 3.3%, signalling that the transition costs are still working through the income statement.

What to watch

• Retail format shift. The bet on pets and fast-casual dining over office supplies and electronics will take several years to offset the revenue lost from closing RadioShack and trimming Office Depot.
• Margin recovery. A net margin of 5.6% and ROE of 7.5% leave limited room for error; any peso weakening or consumer slowdown in Mexico would hit profitability quickly.
• Float and liquidity. With the Losada family controlling over 61% and institutions holding under 10%, the free float is narrow — which caps the stock’s weight in any index and can exaggerate price moves on thin volume.
• Real-estate upside. Gigante Grupo Inmobiliario is expanding through new commercial centres and office projects, a segment that generates recurring rental income and could become a more visible part of the investment case.

This is news, not investment advice.