square meters of sales floor area in our stores at the end of 2020

square meters of sales floor area in our stores at the end of 2020

Sears is the second largest department store chain in the country and in 2020 it had 4.5 million of its proprietary credit cards in use, to thereby constitute one of the largest non-bank players in Mexico. In 2020, due to the health crisis caused by the COVID-19 pandemic, all the Sears stores were temporarily closed from March 31 to June 15. In June, approximately 40 stores were reopened to a 30-40% capacity in several states of Mexico. The aforementioned closures affected several categories of sales products, such as perfumes, cosmetics, men’s and ladies’ fashion wear, furniture, linens and other items.

Towards the end of December of 2020 a Sears Department store closed in Monterrey, so that at the end of the year Sears and Boutiques had 97 stores with a total of 856,402 square meters of commercial floor space.

During 2020 Sears reported sales of $17,717 million pesos, thereby contributing 44% of the total sales and 73% of the consolidated EBITDA of Grupo Sanborns. The investment in new stores was halted and measures were implemented for the control of expenses related to rentals, electricity, and advertising and promotion expenses. The implementation of the technological tool is being carried out in order to improve the logistics of both the physical stores as well as online sales.

In regard to e-sales, the number of items offered in the portal increased. Even with the availability of sales online and the expedited delivery of merchandise, the categories of fashion and furniture experienced a reduction in sales, while the sale of electronic and technology items increased.

million pesos in sales, for a contribution of 44% to total sales and 73% to the consolidated EBITDA of Grupo Sanborns.

Million pesos