Palacio de Hierro to open a new outlet in Coyoacán
On 16 October, El Palacio de Hierro celebrated the complete inauguration of Palacio Outlet, located in Centro Coyoacán, in Mexico City, with an investment of 8.2 million pesos. The space located on the ground floor of the shopping centre is divided into two parts: one of 1 750 square metres for home, electronics and technology, and another one of 1 147 square metres, dedicated to women's, men's and children's fashion and perfumery. Palacio Outlet has an operating profit of 35.2 million pesos (1.67 million US$) and expects to generate sales of 350 million pesos (16.5 million US$). In addition, it records a margin of 9.6%.