Liverpool tightens credit strategy as delinquency hits 4.7% and lending expansion slows
The department-store chain told the Mexican Stock Exchange it will prioritize profitability over credit growth in the second half; it counts 8.8 million cardholders nationwide.
El Puerto de Liverpool said it will adjust its financial strategy to prioritize profitability and the quality of its loan portfolio, after reporting that its 90-plus-day delinquency rate rose to 4.7 percent at the close of the second quarter of 2026, up 70 basis points from the same period a year earlier.
According to the quarterly report the company filed with the Mexican Stock Exchange (BMV), the financial business closed June with 8.8 million cardholders and 9.5 percent annual growth in gross loans. Consolidated group revenues reached 57.29 billion pesos, 1.5 percent higher than the same quarter of 2025, while net income grew 55.4 percent to 5.12 billion pesos.
The group's finance leadership said in the same filing that the higher delinquency reading was "an expected consequence" of the sustained credit expansion of recent years and that, from this quarter on, future growth will come from existing customers using more products rather than from taking on additional risk by placing new loans.
The company also lowered its full-year sales outlook for the Liverpool and Suburbia banners and said it will keep a strict expense discipline to protect margins.
What it means for shoppers in Cancún and Quintana Roo
Liverpool operates stores in Cancún at Plaza Las Américas and in the hotel zone, and its store card is one of the most widely held plastics among southeastern shoppers. A more conservative underwriting stance can translate into tighter approval filters — income requirements, credit-bureau history and proof of address — and into lower starting credit lines for those who do get approved. For longtime cardholders, the company said it will push higher usage, which typically shows up as interest-free installment promotions, credit-line refreshers and offers tied to the store's rewards wallet.
Mexico's consumer-finance authority Condusef recommends that anyone with a store card review the Total Annual Cost (CAT) printed on the monthly statement, avoid financing everyday purchases through long installment plans, and compare the CAT against those of banks — especially heading into year-end, when stores push holiday purchases on their own credit.
Context
Liverpool's report comes in a half-year in which other store-card chains have also moved to moderate their exposure to consumer credit. Mexico's banking regulator, the CNBV, publishes monthly portfolio indicators for the regulated financial system; non-bank issuers such as Liverpool disclose their results through the BMV.
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