14 October 2020
The Weekly

On 16 October, El Palacio de Hierro celebrated the inauguration of the new Palacio Outlet, located in Centro Coyoacán, in Mexico City, an investment of 8.2mn pesos. The shopping centre is divided into two parts: the first one was inaugurated this Friday, 1,750m2 for home, electronics and technology and the second, with 1,147m2, opened on 9 October, a space dedicated to women's, men's and children's fashion and perfumery. Palacio Outlet – an off-price store format - had an operating profit of 35.2mn pesos (US$ 1.5mn) and expects to generate sales of 350mn pesos (US$ 16.6mn). Its margin is 9.6%.