date:Aug 20, 2014
ely to see a significant pickup in annual sales growth until next year, when confidence improves, said Banco Ve Por Mas SA analyst Juan Elizalde.
The informal economy is one of the main competitors to these department stores, Elizalde said in a phone interview. The clients are evaluating the new reality of their pockets, and its much cheaper to buy used appliances at a market, if its good quality, than pay it by installments in Elektra or Famsa, he said. He was referring to two other retailers,