7.7%
grew the sales at Sears stores led by a solid performance and attractive credit promotions.
During 2016, Sears reported sales of Ps. 24,561 million that had a 52% contribution to Grupo Sanborns’ total sales. On the other hand, EBITDA was Ps. 3,708 million, showing a 57% contribution to EBITDA on a consolidated base in the period.
Six stores started operations in 2016 -Irapuato Cibeles, Vía Vallejo, Chimalhuacán, Tampico Altama, Cuatro Caminos and Atizapán-. Similarly, full remodeling works were carried out in two stores, which included the expansion of their commercial area. Partial expansion works in two other establishments were also conducted during the year.
Sears continued to renew its commercial image before customers. The chain began to pay a greater attention to proprietary brands and value-added merchandise. Similarly, commercial operations were complemented by greater sales from the www.sears.com.mx.
Sears’ stores in Mexico are the second largest chain of department stores in the country. Additionally, the format is one of the most important non-bank issuers of credit cards in the Mexican market, with three million proprietary plastics at the end of the year. Moreover, Sears operated 93 department stores and five boutiques, which occupy a commercial area of 809,248 square meters in 2016.
