EconomyFinancialLast Minute: The 'supers' and department stores spin five...

Last Minute: The 'supers' and department stores spin five months of growth in sales despite inflation

The general rises in the price of products do not stop the growth of department stores and supermarkets, which in July spun five months of growth in sales.

Liverpool, La Comer, Sanborns and other stores that make up the National Association of Self-Service and Department Stores (ANTAD) registered an 11.7% growth in July sales in stores with more than a year in operation, known as equal stores.

Sales in total stores, which consider stores opened during the last 12 months, registered a 14.2% increase in sales compared to the same month in 2021, according to data from the association.

In the accumulated there was also growth. From January to July, the sales of the union members totaled 780,600 million pesos, which represents an increase of 2.9% compared to the 758,000 million pesos that were billed in the same period of 2019, the year before the pandemic.

The good results of the retailers affiliated to ANTAD are inserted in a context of generalized increases in the prices of products, which have led Mexican consumers to look for alternatives, such as bulk purchases, to stretch the family budget.

Vicente Yáñez, president of ANTAD, revealed that inflation is an issue that still worries them, especially “imported inflation” , which is generated by breaks in supply chains and is complicated by the war between Russia and Ukraine.

“(Inflation) is a phenomenon that we must be patient with, we will attend to it with market mechanisms and not with price controls. Our chains are making an effort and a list of products with their suppliers to contain (prices)”, said the president of ANTAD.

Separately, companies have reported higher revenues during the second quarter. For example, Grupo Sanborns, owned by Carlos Slim, generated revenues of 14,691 million pesos between April and June, 2,712 million more than the same period last year.

Along the same lines, La Comer’s sales increased by 18.1% during the second quarter of the year, reaching a level of 8,503 million pesos (mdp), which left a net profit of 486 mdp, 40% higher when compared with profits of 348 million pesos for the same period last year.

In the same period, the revenues of El Puerto de Liverpool increased 13.4% to 42,560.2 million pesos, from 37,537.8 million in the same period of 2021. The controlling net income was 4,474 million pesos, 48.1% higher than the previous year.

At the end of 2021, the commercial chains that make up ANTAD group together more than 46,600 stores. The total sales area of these establishments amounts to more than 21 million square meters.

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