To National Association of Self-Service and Department Stores (ANTAD) ‘he did not get enough’ due to inflation: the union members reported an 8.2 percent growth in comparable store sales in Septemberbut removing the inflation of the national month that was located at 8.7 percent per year, its reality was a drop of 0.5 percent compared to the same period last year.
While for total stores, ANTAD’s revenues rose 1.7 percent in the ninth month of the year.
“It reflected a slight sequential slowdown in the pace of growth, which, in our opinion, might be due to the absence of effect ‘back to school’ and that promoted in an extraordinary way the month of August”, pointed out Valentín Mendoza, Head of Equity Research at Actinver.
With these indicators, ANTAD sales slowed down compared to the growth registered in July and August.
While, in its comparison with the Septembers of other years, was down from a 3.9 percent like-for-likes, and 5.6 percent totals, rise from last year; but better than the 4.1 and 1.4 percent contraction to comparable and total stores, respectively, from 2020.
By type of storein real terms, the departmental ones, among which are Liverpool, Sears, Iron Palaceamong others, succumbed 2.9 percent to comparable stores and 1.6 percent to totals.
The specialized ones that group a variety of Office Depot, Petco, C&A, 7-Elevenamong others, fell 0.8 percent to comparables, and rose 2.1 percent in total.
And self-service chains like Chedraui, La Comer, HEBamong others, rose 2 and 4.4 percent to comparable and total stores, respectively.
In nominal terms, the members of the association chaired by Vicente Yáñez, reported a growth of 8.2 percent in comparable stores, and 10.6 percent in total.
“Las september figures reflect despite a positive calendar effect for this year not only because of the presence of one more Friday but because of the long weekend commemoration of the independencea tendency to lower purchases in department stores, probably due to the preference for weekend trips and outings now that the restrictions due to the pandemic have been considerably reduced, as has the number of cases,” said Marcela Muñoz, deputy director of analysis for Vector.
The digit is a slowdown from the previous month, August, when growth was 11.5 percent and 14.1 percent, comparable and total stores, respectively.
Likewise, between the Septembers of previous years, it was below the growth of 10.1 and 11.9 percent, to comparable stores and totals, from last year; but above the fall of 0.3 percent and rise of 2.6 percent, to comparable and total stores that the indicator presented in 2020.
“Sustained high-single-digit growth, in our view, suggests that the consumer remains relatively resilient to the onslaught of high inflation, especially considering consumer fundamentals remain strong. Although it will be necessary to continue monitoring for how long, “said Mendoza.
By type of store self-service chains grew 10.9 percent at comparable stores and 13.5 percent at total. Department stores 5.5 and 7 percent to comparable and total stores, respectively. And the specialized ones 7.8 and 11 percent to comparable and total stores, respectively.
