Chilean retailer Cencosud has forecast 2004 revenues of almost $2bn due to expansion and the surging domestic economy.
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Cencosud, which operates supermarkets in Chile and Argentian, forecast sales up 40% to $1.995bn in 2004, compared to an expected $1.431bn this year.
“This year sales will rise 51% (compared with last year) and for next year we expect (sales of) $1.995bn as new stores come into operation,” Cencosud president Horst Paulmann was quoted by Reuters as saying.
Cencosud recently agreed a deal to purchase the Santa Isabel chain of supermarkets from Dutch retail giant Ahold.
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By GlobalData
