Chile's Cencosud reports $16.5 bln in sales for 2017
Jan 31, 2017
Latin American retailer Cencosud said on Monday it expected consolidated sales of $16.5 billion this year on improved performance of its business units, increased online growth and new store openings.
The retailer, which is headquartered in Chile and has operations throughout South America, is controlled by Chile's Paulmann family.
Improved regional economic prospects, especially in Argentina, Brazil and Peru, will also help buttress Cencosud's business units, it said.
Cencosud said it expects adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) margin of between 7.3 and 7.6 percent in 2017 and to invest some $2.5 billion over the next four years.
Cencosud runs the Jumbo supermarkets, Paris department store and Easy home improvement store brands, among others, and has significant operations in Chile and Argentina, with a presence in Brazil, Peru, and Colombia.
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