Grupo Elektra is a Mexican retail and financial services company, serving the Latin American market by providing consumer credit. Grupo Elektra is divided into two divisions: retail and financial. Elektra, the group's main chain, has more than 600 stores in Mexico and Latin America specializing in electronics, white goods, appliances and furniture. Founded in 1950 by Hugo Salinas Rocha, grandfather of President Ricardo Salinas Pliego, this company has been a family business since its beginnings. Elektra was the first television manufacturer in Mexico to sell televisions through door-to-door salespeople. In 1954, Elektra opened its first credit program extending credit to local consumers and opened its first store three years later. After experiencing marginal growth and deflation of the peso in 1976, Elektra changed its policy to emphasize cash only. However, this did not help the struggling company and in 1982, Elektra filed for bankruptcy protection. In 1987, 37 years after founding his company, Elektra's founder and CEO retired and handed the company over to his grandson Ricardo Salinas. Salinas felt he could serve the company better as president and appointed a group of professional managers to help him run the company. . Believing that the company needed to escape the “family trap,” Salinas hired Pedro Padilla, a 24-year-old UNAM law student with extensive experience in cross-border financial and commodities transactions. Padilla formed Salinas, and in 1993 Salinas became Elektra's new CEO, serving several years until Javier Sarro replaced him in 2000. Sarro was Elektra's former vice president of financial services. Sarro holds an MBA and completed undergraduate studies in law. Electra grew middle of paper...... articles showing that sales have increased every year and continue to grow, with most of it going to merchandise and credit. Elektra's gross profits are also impressive, with figures running into the millions. However, according to the income statement, there is also a net monetary loss of $29.65 million and a monetary loss of $23.82 million in the credit transaction. Minor figures compared to the 796.12 million cost of goods sold. Elektra's bank loans are high; however, they own assets and equipment that are almost double the loan amount, allowing them to liquidate them if necessary. There are already 954 stores across six continents and Elektra will be financially feasible by expanding more; but do they really need to continue growing? It's a decision that only Alvaro Rodrigues Arregui, Elektra's CFO and other executives can decide..