2018 Annual Report
Sears is the second largest chain of department stores in the country, and in 2018 reached 3.4 million cardholders of Sears private label card, which makes it one of the largest non-bank credit card issuers of Mexico. At the end of 2018, Sears had 97 department stores and two boutiques, for a total of 870,018 square meters of commercial floor space.
In 2018 Sears reported sales of $25.815 billion pesos, thereby contributing 50.0% of the total sales and 56.0% of the consolidated EBITDA of Grupo Sanborns. The most important events of the year were the opening of two combined Sears-Sanborns stores located in Cuernavaca Averanda and Parque Las Antenas. Also, the remodeling and expansion of Sears Perisur and Centro Histórico stores in Mexico City took place. The Distribution Center normalized its flow of merchandise after its temporary closure in 2017 as a result of the earthquakes in Mexico City.
Sears maintained its services, its focus on its own brands and merchandise of greater added value, as well as the refurbishing of the stores, in order to present a more modern image to the customers.
In regard to sales through ecommerce, the number of items offered in the www.sears.com.mx website increased, as well as the number of stores with online sales and collection at the store with the “click-and-collect” service.
Sales Breakdown by Category
Hardlines Softlines Credit Services
Among the most important events of the year, was the opening of two Sears-Sanborns combined stores in Cuernavaca Averanda and Parque Las Antenas.
$0
billion pesos in sales, contributing with 50% and 56% of the consolidated total sales and EBITDA of the Sanborns Group, respectively.
Total Sales
(Million pesos)
Sales by Compounded Sqm
(Thousand Pesos)
Our principal bet on Sears is the customization of the stores with the reallocation of commercial spaces based on the sales of particular items, and to increase e-commerce.