EconomyFinancialWhat inflation? Department stores and supermarkets increase their sales...

What inflation? Department stores and supermarkets increase their sales despite rising prices

Department stores, supermarkets and specialized establishments, such as pharmacies and shoe stores, maintain the pace of growth, even as inflation continues to lurk in the pockets of Mexican consumers.

During the eighth month of the year, Liverpool, La Comer, Sanborns and other stores that make up the National Association of Self-Service and Department Stores (ANTAD) registered an 11.5% growth in nominal sales of stores with more than a year in operation , known as peer stores.

Sales in total stores, which consider stores opened during the last 12 months, registered a 14.1% increase in sales compared to the same month in 2021, according to data from the association.

Cumulative sales as of August 2022 amounted to 897.2 billion pesos , an advance of 2.4% compared to the same period in 2019, when they invoiced 875.4 billion pesos.

The good results of the retailers affiliated with ANTAD occur in a context of generalized increases in the prices of products.

Annual inflation for August stood at 8.7%, the highest level since December 2000 . This is an increase of 0.7% compared to the previous month and 4.9% since January, according to Inegi data.

Separately, companies have reported higher revenues during the second quarter. 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.

Similarly, 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 to earnings of 348 million pesos for the same period last year.

At the end of 2021, the commercial chains that make up ANTAD grouped together more than 46,600 stores. The total sales area of these establishments amounts to more than 21.9 million square meters.

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