The Board of Directors’ Report
to the Shareholders Meeting
Times of adaptability. New business platforms, channels, ways of attending the client, technologies aimed at providing better service, and the opening of new stores all integrate to generate unequalled shopping experiences, thanks to the better understanding of the client and of a forceful commercial offering that reaches more Mexican homes and families.
Querétaro Antea
Our business model is based on disciplined growth, with low levels of leverage. At the end of 2014, the Company’s net debt ratio was 0.6.
During the year, we reached a milestone in Liverpool’s history, by having 101 stores in operation. We added five new stores in 2014 in the Mexico City metropolitan area, Querétaro and Puebla, arriving at a total sales area of 1.5 million square meters.
Also, using new designs and enhanced functionality of shopping centers integrated to our department stores, we opened two new Galerías shopping malls in the Cities of Toluca and Puebla, thereby reaching 24 units, representing 523 thousand square meters of rentable spaces and 2,300 tenants, to offer experiences, lines of business and entertainment to a larger number of clients.
Our consumer credit services consolidate as an attractive option integrated into the commercial offering with strict screening and granting standards, permitting us to maintain a healthy portfolio. At the year-end closing, non-performing loans over 90 days represented 4.0% of the total portfolio.
Puebla Serdán
Experiencia Gourmet in our 100th store, Liverpool Toluca.
New shopping mall Galerías Serdán in Puebla.
