Santiago-based Supermercados Unimarc SA, the fourth largest food retailer in Chile, has announced net sales of Ch$27,816m (US$42.68m) for its Q1 2002, down 18.7% from the Ch$34,235m reported for the Q1 2001.
Same store sales also decreased 18.9% during the Q1 2002 year on year, and the company explained that sales were down mainly due to greater competition and a decrease in consumer spending.
Gross profit during the Q1 2002 was Ch$7,251m, a 15.4% drop from Ch$8,572m in the same period of the year 2001, which was due to a lower price strategy adopted during the Q1 2002.
As a percentage of sales, gross margins were 26.1% during the Q1 2002 and 25% during the same period in 2001.
Selling, General and Administrative (SG&A) expenses during Q1 2002 were Ch$6,926m, a 1.2% decrease compared to Ch$7,013m reported in the Q1 2001. As a percentage of sales, SG&A expenses were 24.9% for the Q1 2002 and 20.5% for the Q1 2001.
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.
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 GlobalDataOperating income for the Q1 2002 was Ch$325m, which represented a 79.2% decrease compared to Ch$1,559m in the Q1 2001. The Operating income decrease was due to the sales decrease.
Non-operating result for the Q1 2002 was Ch$2,989m, compared to a non-operating loss for the same period of 2001 of Ch$-1,182m. Net income for the Q1 2002 was Ch$3,517m, while net income for the Q1 2001 was Ch$168m.
The EBITDA margin decreased from 8.3% in the Q1 2001 to 3.4% in the Q1 2002. Net income per share for Q1 2002 was Ch$2.79, adjusted to the number of shares outstanding. Net income per ADR was Ch$139.38, or US$0.21.
At the end of Q1 2002, Unimarc had 33 stores in Chile, and a total sales area of 62,837m².