CHILE: D&S opens China purchase office
D&S is to open a purchase office in China, it was reported yesterday (19 June). The office would open in Shanghai, news agency Reuters said.
The decision follows similar moves by other supermarket chains, including regional competitor Cencosud, the news agency noted.
Speculation surrounding the future of D&S continues, with the company's share price gaining strongly this week. The company said it had no explanation for the rise.
However, earlier this year, it was believed the company was in talks with Wal-Mart concerning a potential acquisition. At the time D&S dismissed the speculation, which came just weeks after Chile's competition watchdog blocked a planned merger between D&S and local rival Falabella.
In May, D&S posted a rise in first-quarter sales and earnings.
The company booked a 16.4% rise in operating income to CLP22.3bn (US$47.5m) on a 5.6% increase in net sales to CLP468.1bn.
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