Chilean supermarket chain D&S has reported a fourth-quarter net loss of US$700,000, compared with a profit of $15m in the year-ago period.
“These figures are evidence of the stagnant economic situation affecting the country, with low levels of consumption and high unemployment,” D&S was quoted by Reuters as saying.
D&S, which has an 83% market share in terms of sales, also reported a one-off restructuring charge of $10m in the fourth quarter of 2002.
The retailer, which said it opened two new stores in the quarter, said fourth-quarter sales were up 6% to $369.4m. For the full year, sales rose 10% to $1.29bn.
The company’s fourth-quarter EBITDA fell 37.3% year-on-year to $24.0m, while operating profit dropped 56.7% to $11.9m.