11 November 2021
The Weekly

In Q3/2021, the Palacio de Hierro Group's sales reached P8696mn (US$418mn), which represented an increase of 26.3% compared to the same quarter of 2020. Profit before financial expenses, taxes, depreciation and amortization (Uafida), presented an increase compared to the same quarter of 2020 of 664.5% and represented 11.6% of sales. The accumulated net profit registered an increase of 100.8%, compared to 2020. The Group reported that it also managed to diversify its income during forced closures, through the 'Palacio Contigo' program, reinforcing distance sales via Internet, telephone, WhatsApp and Personal Shopping, which as a whole grew at the end of September by 42% vs 2020. In addition, it incorporated new product delivery options for its customers through its Click & Collect's and Pick Up's network.