10 August 2021
The Weekly
Mexico

Grupo Palacio de Hierro reached sales of 8,212mn pesos in the second quarter of 2021, for an increase of 254.5% compared to the same quarter of 2020. At the end of the quarter, sales reached 14,399mn pesos, an increase of 57.1% compared to the same period last year. In the quarter, the commercial division's revenues increased 380.7% compared to 2020 due to the reopening of businesses even with limited hours and capacity. Revenues from the credit division decreased 19.5% compared to the same quarter of 2020. Quarterly total operating expenses as a percentage of total revenues showed a drop of 59 percentage points compared to 2020. The group announced that at the end of the second quarter of 2021, 37.5% of sales were made with a Palacio card.

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