Chile-based retailer Cencosud saw profits fall in 2013, although its earnings jumped in the fourth quarter.

The company, which has stores in five South American markets, booked net profit of CLP229.77bn (US$419.1m) for 2013, down 15.8% on 2012.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Cencosud reported increased finance costs after its debt grew to pay for businesses including its acquisition of Carrefour‘s business in Colombia a year ago. Its losses from foreign exchange were also higher.

Net sales in 2013 were up 13% at CLP10.34bn thanks to the Carrefour outlets in Colombia, the opening of supermarkets and the retailer’s new department stores in Peru.

In the last three months of the year, Cencosud saw its net income jump 40% to CLP158.1m. Cencosud revenue increased 11% to CLP2.86bn.

See Also:

“Our results for the fourth quarter of 2013 highlight the strength of our position as a leading supermarket retailer in Chile and Argentina, as well as our expertise in home improvement, department stores, shopping centres and financial services right across South America,” Cencosud said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“In 2014, our focus will be on improving results in Colombia and Brazil while also lowering our leverage through operational excellence, reduced capex and the strategic monetization of non-core assets. We remain well-positioned in the South American retail market, with unique scale and diversity, and are confident that 2014 will be a successful year.”

In January, Cencosud said it would be investing less in expansion this year as it focuses on consolidating its Brazilian and Colombian operations.