Soriana Organization, the second largest supermarket chain in Mexico, increased its revenues and operating cash flow (EBITDA) to single digits in the first quarter of the year, benefited by the performance of its stores opened in the last year and by the recovery of influx of people to shopping malls.
The retailer concluded the first quarter of the year with a 1.9% increase in its operating flow, compared to the same period in 2021, while its sales were 7.7% higher.
Soriana concluded the quarter with four more stores compared to the same period in 2021 -a Hypermarket, two Soriana Supermarkets and a City Club- to add 798 units and a sales floor slightly above four million square meters.
In addition to this, the results also reflected “a constant recovery in real estate income from rentals of commercial premises caused by the generalized reactivation of traffic in shopping centers,” the company said in a statement.
Regarding same-store sales, the company recorded revenues 7.2% higher than the same period last year.