What: Covid-19 restrictions affected its operations in Chile and Peru.

Why is it important: E-commerce posted record numbers reaching a gross merchandise value of USD 880 million in 2020, representing an increase of 140% when compared to 2019.

Chilean retail conglomerate Ripley reported that consolidated revenues had fallen from CLP 1 727426 million (USD 2.4 billion) in 2019 to CLP 1 499 541 million (USD 2.09 billion) in 2020. The company stated in its financial report that the 13.2% decline had been due to Covid-19 restrictions affecting its operations in Chile and Peru.

Even though the company’s retail segment recovered 28.8% during the fourth quarter of 2020, it wasn’t enough to offset store closures earlier in the year that contributed to a 10.4 per cent drop in 2020 when compared to 2019.

Chilean Retail Giant Ripley Reports 2020 Revenue Decline of 13.2% 

Financial Statements Ripley Corp 4T20