EconomyFinancialSears faces challenges to increase the supply of clothing...

Sears faces challenges to increase the supply of clothing and shoes in its stores

Sears, one of the Grupo Sanborns brands, is adjusting the product offering in its stores to respond to the new needs of customers, mainly clothing and footwear, after the gradual return to offices and schools.

“We work throughout the year to offer consumers both casual and formal fashion, as the return to offices and face-to-face events has been resumed,” the company explained in its results report. However, Mario Enrique Bermudez Dávila, finance director of Grupo Sanborns, acknowledged that disruptions in the supply chain have been an obstacle in the strategy.

“There has been a delay in the fashion assortment. The productive chain is not at 100%”, said the director in a conference to comment on the financial results of the second quarter. “We hope that suppliers will recover delivery percentages. This will give us significant added value,” he added.

The manager, who said he was optimistic about the future, declared that for now they do not consider risks in sales due to the escalation of prices that is being experienced worldwide. “We are hedging the market in advance, we hope not to have a greater impact due to the inflation issue, we are also seeing the behavior of the (interest) rate,” he commented.

Omnichannel bet

In February of this year, the company launched the Sanborns Restaurante App and the Sears App to promote the sale of merchandise, in addition to allowing inquiries and payments to the departmental card, contracting services and the option of picking up in store.

Although Grupo Sanborns has continued to advance towards electronic commerce, it has not neglected the opening of stores. Towards the second semester, the company expects the opening of two stores, Sears Tepeyac, north of Mexico City, and another unit with the Dax rubric, whose location was not disclosed.

These new locations are added to the opening of two new iShop branches, in Tulum and Colima, one of Dax in Los Cabos, as well as the remodeling of stores and the acquisition of furniture and equipment during the first half of the year, which required investments for 247 million pesos.

“Going forward, we will continue to work in parallel, both on initiatives for e-commerce and in our physical stores (…) We expect investments in working capital destined for logistics, distribution center, fleet and deliver from the store closest to customers with speed, lower costs and better service”, added Grupo Sanborns in its financial statement.

Carlos Slim’s company reported improvements in its income during the second quarter of 2022 and, according to its financial report, generated income of 14,691 million pesos.

The different formats have shown a recovery after the effects of COVID-19. Sears grew its sales 23.7%, Sanborns 29.9% and iShop MixUp increased 19.7%, detailed the manager.

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