El Palacio de Hierro Reports 9% Revenue Growth in Q3, Nets $94 Million

El Palacio de Hierro closes its third quarter with a 9% increase in revenues. The Mexican department store group reported revenues of $2.197 billion, an 11.3% increase for the year to date, compared to the same period last year.

In the last three months, El Palacio de Hierro has undergone a transition in its top management. Juan Carlos Escribano retired last September and was replaced by Eléonore de Boysson, the first woman to take the reins of the company.

Net profit stood at 94 million dollars and gross operating profit (ebitda) increased by 6.4% to $302 million, the group reported in a statement on Tuesday.

El Palacio de Hierro has boosted its digital sales, which recorded a cumulative growth at the end of the quarter of 30% compared to the same period of 2024. Already in the first half of the year, this channel grew by 27%.

El Palacio de Hierro once again boosted its digital sales, which recorded a growth of 30%

Citing data from the Asociación Nacional de Tiendas de Autoservicio y Departamentales (Antad), the report states that the retail sector’s 2025 comparable store sales growth was 3.3%, and in the department store segment, comparable store growth was 6.3%. El Palacio De Hierro’s growth would therefore be above the national average.

The group has continued the trend it set in the first half of the year, which ended with a turnover of $1.47 billion, an increase of 12%. Its net result, moreover, was then implemented by 19%.

El Palacio de Hierro, which is part of Grupo Bal, is one of the leading department store groups in Latin America. The company operates fifteen El Palacio de Hierro stores, two Casa Palacio stores, two Palacio Boutiques and two Palacio Outlets throughout Mexico. The company has exclusive department store sales in Mexico of the main international luxury brands and markets the brands and operates the independent boutiques of Adolfo Domínguez, Aldo, Mango and Michael Kors, reaching more than 150 points of sale.