Grupo Sanborns, S.A.B. de C.V. reported consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total revenues of MXN 11,385 million against MXN 11,183 million a year ago. Operating income was MXN 879 million against MXN 1,009 million a year ago. Income before taxes was MXN 938 million against MXN 1,075 million a year ago. Consolidated net income was MXN 722 million against MXN 872 million a year ago. Profit attributable to owners of parent Co. was MXN 674 million against MXN 817 million a year ago. EBITDA was MXN 1,161 million against MXN 1,320 million a year ago. Investments in fixed assets totaled MXN 281 million, amount that was lower than MXN 454 million in the same period of the previous year. Consolidated same-store sales increased 2.7% during the quarter, reflecting higher technology sales at Promusa, which increased 19.3%, while Sanborns increased 1.5% and Sears decreased 3.8% in same-store sales. Net income decreased 17.4%, totaling MXN 274 million due to lower operating results and an increase in the tax rate since there was a greater effect of inflation on the assets of the company.

The estimated CapEx for 2018 is approximately MXN 2,300 million.

For 2018, the company expects opening of 18 new stores (four Sears, four Sanborns and ten iShop), extensions and remodeling.