Sears reportedly filing for bankruptcy in the US, but success with Slim in Mexico
Is ready to say goodbye this Sunday, after 125 years in the market.
Agencies in the United States reported that the chain is preparing to declare bankruptcy in the coming days before an expiration debt of 134 million dollars (mdd) in that country.
Sears shares were traded for only 35 cents in New York, a fall of 94 percent in the last year, the future of the 89 thousand employees of Sears remains unclear.
The mistake Sears made, say experts, was failing to invest that savings to rebuild the business. The company that invented home shopping more than a century ago squandered an opportunity to become a major player online. At the same time, Sears let its physical stores fall into disrepair. While other traditional retailers tried up upgrade their in-store experience.
Despite United States current situation, Mexico generated revenues of 11 thousand 317 million pesos, numbers that predict its good health in the national market
Why the circumstances are different in both countries?
Because Sears Mexico is operated by Sanborns Group that belongs to Carlos Slim and in recent years, the company has carried out a renewal strategy that is completely different than the one made in the United States.
Sears Mexico is situated as the second largest chain of department stores in the country and reached 3.2 million of its own credit cards during 2017, without the need for intermediary banks.