Operator

Good morning to all participants, and welcome to the Grupo Comercial Chedraui First Quarter 2026 Conference Call. Participating in the conference call today will be Mr. Jose Antonio Chedraui, CEO of Grupo Comercial Chedraui; Mr. Carlos Smith, CEO of Chedraui USA; Humberto Tafolla, CFO; and Arturo Velazquez, IRO for the company. We will begin the call with initial comments on Grupo Comercial Chedraui's first quarter financial results by the company's CEO, Mr. Jose Antonio; and Chedraui USA CEO, Carlos Smith. Thank you. You may begin.

Jose Antonio Chedraui Eguia
CEO & Director

Good morning to all, and welcome to our presentation of Grupo Comercial Chedraui's First Quarter 2026 results. I want to thank all of our employees for their hard work and dedication to our mission, improving the lives of people by bringing the products they prefer at the best price to as many places as possible, thereby inspiring them to grow and develop within Chedraui. Their commitment has been key to maintaining strong margins even as soft consumer trends continue to be present in Mexico and the United States. In Mexico, consumer spending has been weaker than initially expected, especially in the Southeast. This affected our same-store sales growth