3 November 2020
The Weekly

During the Q3 2020, revenues of the company - which include 122 Liverpool stores and 165 Suburbia stores - were 10.8% lower than in the same period in 2019, due to the fact that at the beginning of the quarter half of the stores were closed. After a nearly 60% drop in sales in the second quarter, Liverpool gradually recovered as stores reopened starting in July. During August and September same-store sales were higher by 6% and 7%, compared to the same months of the previous year. Important campaigns ‘La Gran Barata’, which lasted for six weeks, and the ‘Mid Season’ promotion, as well as the e-commerce channel (which grew 2.8 times), allowed Liverpool to reduce its inventories.

Furniture, appliances, electronics and exercise equipment were the categories that drove Liverpool's sales recovery. Suburbia's reliance on clothing sales and on the Mexico City Metropolitan area limited its performance and its same-store sales decreased 9% during September. Both Liverpool and Suburbia recorded a 34.9% and 43.1% decrease in customer traffic in their stores, however, this was partially offset by double-digit increases of 26.1% and 12.6% in the average ticket. Operating cash flow (EBITDA) for the quarter amounted to 994mn pesos versus 1,838mn loss in the second quarter. However, the EBITDA for the third quarter of the year is 76.6% lower than that reported in the same period of 2019.

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