The pandemic hit sales and reduced Liverpool and Suburbia's opening plans
- The COVID-19 pandemic has led to sales declines and adjustments in opening plans for Liverpool and Suburbia stores owned by El Puerto de Liverpool.
- Liverpool has postponed opening two stores, while Suburbia has reduced its planned openings from 23 to 9 units.
By: SiiLA News
The department store sector has faced significant challenges due to the closures of units as a result of the pandemic. In this context, El Puerto de Liverpool, the company that owns Liverpool department stores and Suburbia stores, has had to take measures to adapt to this situation. In their financial report sent to the Mexican Stock Exchange (BMV), it is revealed that adjustments have been made to the opening plan of both chains.
Due to the economic uncertainty and restrictions imposed by the pandemic, the opening of two Liverpool department stores originally scheduled for this year has been postponed. Additionally, Suburbia has significantly reduced its opening plan, going from 23 to only 9 units. These decisions reflect the need to adjust the expansion strategy and adapt to a challenging business environment.
The financial report also reveals the negative impact on the sales of El Puerto de Liverpool during 2020. The company reported a 20.7% decrease in revenue compared to the previous year. Sales at Liverpool department stores experienced an 18.3% decline, while Suburbia reported a negative variation of 34.9% in its sales.
