Zero-Interest Credit Campaigns Lead To Higher Sales At Mexican Department Stores.

MEXICO CITY, Aug 9, 2001

Sales growth at Mexican department sources such as Liverpool (BMV:LIVEPOL), Palacio de Hierro (BMV:GPH), Coppel (BMV:ALMACO) and Sears rose by 9 percent in the second quarter of 2001, in large part due to extensions of zero-interest credit to customers, reported Mexico City daily Reforma. The sector saw increased sales of 9.2 billion pesos during the period, led by Liverpool with 4.4 billion pesos in sales. At Liverpool, 49 percent of sales during the period were made with store credit cards, compared to 47 percent in the same period last year. Average EBITDA for the stores grew by 16 percent during the period, and net profits were up 53 percent year over year.

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