Grupo Sanborns
Sales at the Commercial and Consumer division totaled $51.755 billion pesos in 2018, which represented an increase of $1.987 billion pesos or 4.0% growth, in comparison with the figure observed in the previous year. In this respect, the sales for the Sears, Sanborns and Promotora Musical store formats, as well as the Other Formats segment, grew 1.6%, 0.1%, 16.5% and 5.7%, respectively, in 2018 in comparison to the sales recorded in the previous year.
Furthermore, income for credit was $3.609 billion pesos, which represented an increase of 5.1% in comparison with the figure recognized in 2017.
Operating profit was $4,796 billion pesos in 2018, a 7.0% decrease than the operating profit for $5.158 billion pesos recorded in 2017. This effect is mainly the result of recognizing a higher cost of sales, due to the increased participation in the mix of items grouped under the “big ticket” concept, as well as for recording in 2018 increased operating and administration expenses linked to the closure of stores that did not satisfy the profitability criteria. Further, the adjustment in operating profit is the result of