The Ministry of Finance and Public Credit, through the Tax Administration Service, announced the total income of the main department stores from January to March of this year in the country, which amounted to 88.5 billion pesos, more than the same period last year: Coppel being the store where Mexicans spend the most and Hemsa in which they spend the least.
The report on the revenues of the main department stores was made from January to March 2022, where it was announced that the income of department stores was 21 billion 600 thousand pesos higher than in January-March 2021, that is 25.3 percent more.
The department stores that were taken into account were Coppel, El Palacio de Hierro, Sears, Suburbia, Sanborns, Hemsa, Almacenes Garcia, C & A, and others where they are located: La Marina, Almacenes Rodríguez, El Nuevo Mundo, Liverpool.
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Liverpool was founded in 1847 in Mexico City and by the third quarter of 2019 it had 120 stores, the vast majority inside the shopping centers called Galerias. The first Suburbia store opened in 1970 in Mexico City; in 2016 Liverpool reached an agreement with Wal-Mart to buy 100% of the stores with approximately 15.7 billion pesos.
From January to March 2021, an income of 48 billion 678 thousand pesos was recorded in the Coppel store, while for this year in the same period 60 billion 936 thousand pesos were recorded. Being the store with the highest revenue record from January to March 2022.
In the case of the Iron Palace, during the first three months of 2021 there was an income of 4 million 843 thousand pesos and for January to March 2022 it was 9 billion 900 thousand pesos.
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On the other hand, Sears in the same period last year had 4 billion 655 thousand pesos and this year 5 billion 663 thousand pesos. Last year Suburbia had an income of 2 billion 108 thousand pesos and this year it more than doubled with 4 billion 435 thousand pesos.
Almacenes García had an income of one billion 367 thousand in the first three months of last year, while in this year it had 1 billion 995 thousand pesos. The department store where Mexicans spend the least is Hemsa with 91 million pesos in 2021 and 90 million pesos in the first quarter of this year.
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Coppel is a Mexican company originally from Culiacán Sinaloa, founded in 1941 with the purpose of selling furniture on credit in fertilizers. It currently has more than 800 stores, spread over 15 countries.
One of Coppel’s last moves was to sell wholesale pantry products such as beans, soft drinks, juices and toothpastes on credit. They can be purchased from six pieces and paid in up to 24 fortnights. In addition, in the department store you can get appliances, cell phones, furniture, toys, perfumes, clothes to buy on credit, which makes it one of the favorite stores of Mexicans to get what they need.
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