El Palacio de Hierro boosts its sales by 73% in the second quarter

What: The group reported consolidated revenues of MXN 14,399 million (EUR 609 million) and EBITDA of MXN 1,070 million (EUR 45.3 million).

Why it is important: The department store results are above the sector average and at 2019 levels.

The company points out that the department stores associated with the National Association of Self-Service and Departmental Stores (Antad) recorded a growth of 53% in the same period.

During the forced store closures, the company launched the Palacio Contigo program, which reinforced distance sales through personal shopping. A new contact centre was also launched under the slogan One Call, One Solution.

In addition, El Palacio de Hierro, continues to retain 100% of the workforce, which allows more than 80% of its administrative employees to carry out their activities remotely.