Grupo Sanborns

Consolidated revenue for Grupo Sanborns increased 11.4% to $37.044 billion pesos for 2011, compared to $33.261 billion pesos for 2010.

Operating profit increased 18.8% to $4.606 billion pesos. Meanwhile, EBITDA reached $5.140 billion pesos, a 13.5% increase from 2011.

Grupo Sanborns´ profits before discontinued operations and accumulated non-controlling interest were $2.926 billion pesos, compared to $2.409 billion pesos in 2010, a 21.5% increase. After these items, controlling net income decreased 7.4% due to the reporting in 2010 of the real estate division (which was spun-off in 2010) as a discontinued operation, with a difference of $724 million pesos of what was reported in 2011.

Revenue at Sanborns increased 7.1% compared to 2010, while same-store sales grew 5.0%. Sears increased  revenue 5.1% from January through December 2011, while same-store sales increased 5.3%. As part of the organic expansion, the Group opened the following: five Sanborns stores for a total of 165 units for the year, 10 iShop stores and three Edumac centers. Also, five music stores were closed, bringing the total to 109 entertainment stores for the year.  Additionally, Sears inaugurated seven stores and closed one to finalize 2011 with 80 stores in operation. It’s worth noting that some of the Sears and Sanborns stores were opened within high-traffic shopping malls such as Villahermosa Altabrisa and Plaza San Luis.

In total, Grupo Sanborns operates 416 units in Mexico and three in Central America under different formats that in addition to those already mentioned, also include: Tiendas Dax, Sanborns Café and some specialized boutiques.

Other initiatives carried out during the year in all of the companies include: the redesign of the exhibition areas in stores, consumer loyalty programs, reduction of inventory, introduction of innovative products and supplier development, as well as reconversion activities to save energy and reduce costs.

Capital investments at Grupo Sanborns were approximately $1.504 billion pesos in 2011, an amount four times higher than the past year, including the investment in new stores and remodeling.