What: Falabella Group posted a profit of USD 97 million in the third quarter of 2024, its highest in three years, with a 6% year-on-year growth in consolidated revenues.

Why it is important: This significant recovery highlights Falabella's successful adaptation to market challenges, driven by strong retail and e-commerce performance, as well as operational efficiency, positioning the company for continued growth across Latin America.

Falabella Group reported USD 97 million in profits for Q3 2024, its best result in three years, alongside a 6% year-on-year increase in consolidated revenues to USD 3.17 billion. Retail sales grew by 9%, with brick-and-mortar stores and e-commerce contributing significantly. Same-store sales increased by 6%, while e-commerce saw a 15% rise. The group's EBITDA surged by 80%, reaching USD 368 million, with an EBITDA margin of 11.6%. Key markets like Chile, Peru, and Colombia played a crucial role in this growth, despite an 8.2% decline in banking revenues. Falabella's CEO emphasised the company's strong recovery and focus on expanding both its physical and digital offerings. Additionally, businesses like Sodimac and Tottus saw notable sales increases, while Mallplaza reported a record low vacancy rate of 3.6%, reinforcing its strong market position.

Falabella Group reports USD 97 million profit in Q3 2024, marking strong recovery