Exito Group has hailed fiscal 2010 as a “great year” for the group, with net profits for the 12 months up by more than 70%.
The Casino-owned Colombian retailer booked net profits of COP254.8bn (US$134.2m), a year-on-year rise of 73%. Operating income rose 24.9% to COP318.4bn during the period.
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Exito said sales were driven by new store openings, rising 7.6%. The group opened 14 new stores and converted 38 stores to new banners, while 31 points of sale were added to its portfolio as a result of the group’s alliance with Cafam. ID sales rose 5.7%, the group added.
“2010 will be remembered as one of the best years ever for Éxito Group, with outstanding results fruit of our customers’ confidence, commercial dynamism linked to our innovation, our expansion plan, our impressive banner conversion plan, and a winning strategic alliance with Cafam. Our internal strategy along the national economy context, yielded us a memorable year,” said Gonzalo Restrepo, Éxito Group CEO.
Exito said that it has “big plans” for fiscal 2011, including “innovative commercial execution” and the continuation of the company’s “operating excellence” initiatives.
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