The news has been running for a few months, but it was not until this Thursday when it exploded: Sears may go bankrupt next Sunday. However, it is important to point out an important fact. The retail chain will only follow this course in the United States, which means that Sears will continue to operate normally in Mexico for the peace of mind of its employees and customers.
but, Why is the situation of the brand different in our country? Firstly because Sears is operated in Mexico by Grupo Sanborns, owned by Carlos Slim, and secondly because the company has had a renewal strategy of the commercial director in recent years. Edgar Smolensky (Edy Smol); very different from that followed by the company in the United States.
Sears had 21,000 employees in Mexico until September this year
So different are the times that the company lives north and south of the border, that here in Mexico the business group of Carlos Slim reported revenues 11 thousand 317 million pesos in the first semester of 2018, representing 48.6% of the total sales of the group.
Sears Mexico continues to expand, because it will close three new stores in 2018 and another five stores will be renovated. 828 thousand 863 square meters of commercial area. This was stated by Smol in an interview with Publimetro: "The situation in Sears Mexico is growing, growing and being successful".
The translation of this statement can be seen in one of the last openings. Specifically in the store that opened the brand in Perisur, which was established as the first in the world with a kinetic façade, as well as the opening of Sears in the Antenas Park.
The commercial director noted that the brand has "a divine chain in Mexico" with expansion. "It should be clear that Sears does not scare Mexico, nor the action, there is no correlation between the brand in the United States and Mexico until physical stores have nothing to do," he said.
"They are two companies and the only thing we share is the name, even the logo, the color or the typography", he repeated to avoid confusing both customers and employees after they had made themselves known about the fate of the business. American company.
In addition, Edy Smol emphasized that this kind of news is never good.
Also with regard to the future, also known as fashion guru, Grupo Sanborns emphasized the license of the name Sears until 2026, date on which it would play to renew it, "we even speak about an automatic renewal".
But what was Sears' biggest problem in the United States? Some point to online stores, others to the change of consumption habits of Americans and there are those who point to the mismanagement of this empire that was founded in 1886.
The CEO and main shareholder of the company, Eddie Lampert, pointed out the causes of the company's own pensioners last September.
After having presented another bad quarterly report with a decrease of up to 60%, Lampert complained about all payments that the shopkeeper had to pay to his former employees, which amounted to 100,000, while the current staff is estimated at 89 thousand employees. About $ 300 million, according to the documents presented.
But news such as the news that this Thursday jumped to the most important internet sites is not the only one of this type. In 2009 something similar happened in the neighboring country with General Motors and in Mexico the car company maintained activities.
Even the most recent cases of toys retailer Toys "R" Us, which closed its doors this year in the United States, while in Europe its stores are not affected or the textile Aeropostale.
Performance in Mexico
Sears figures in Mexico make it one of the most important players in the national market.
- 3.2 million credit cards issued by the company
- 99% of Sears Mexico is owned by Grupo Sanborns
- There are 95 stores in the country