Sears owner in Mexico contracts this 10% profit in the first nine months of 2018

Grupo Sanborns contracts his profit. The Mexican company, which operates on the Aztec market with Sears and Saks Fifth Avenue, closed the first nine months of the year with a net profit of 2,069 million pesos ($ 105.9 million), or 10% of less. period of the previous year.

The company, which belongs to the family of the tycoon Carlos Slim, has estimated sales at 35 072 million Mexican pesos. ($ 1,796.6 million) to September, up 3.9% from the same period last year. The 96 Sears stores generated 17,325.7 million pesos (887.5 million pesos) in the group's sales figure.

Between January and September 2018, Sanborns realized a gross profit of 13.883 million pesos (711.2 million dollars), 1.5% more, while gross operating income (EBITDA) was 3,746 million pesos ($ 191.9 million), 7.4% less than in the first few months of 2017.

Sanborns achieved a net profit of 2.069 million pesos (($ 105.9 million) in the first nine months of 2018

As for the third quarter of 2018, Sanborns recorded a total business turnover of 11 810 million pesos ($ 605 million), an increase of 7.1% over the same period of the year. Last year, thanks to the dynamism of fashion products. and beauty.

Patrick Slim Domit, CEO of Grupo Sanborns, highlighted the evolution of Sears' activities in the Aztec market and pointed out that "Sears USA's bankruptcy statement has nothing to do with the operation of Sears Mexico . "

Sears Operadora México has the right to use the brand until 2026. Directly, Grupo Sanborns holds a 98.9% stake in Sears Operadora México. Millennium