Falabella increases sales by 11% in first quarter
What: Chile's retailer has closed the first three months of the year with a figure of USD 2,479 million and a profit of USD 137 million.
Why is it important: The group recorded USD 2,238.7 million for 2020 Q1, compared to USD 2,479.2 million this year.
The retailer's revenue increased by 10.7% in the first quarter, increasing its profit by 713.8%. The net result was USD 137.3 million, while gross merchandise value (GMV) was USD 581.3 million, up 142% from the first quarter of 2020,
In this context, Chile was the main market achieving significant growth thanks to a partial physical stores recovery as well as the sustained growth of e-commerce. Department stores results achieved a 41.8% growth, to USD 425.5 million. Supermarkets, on the other hand, increased by 19.8%, to USD 222.2 million.
In Peru, the business of department stores and supermarkets decreased by 0.4% and by 0.6%, respectively, to USD 121.3 million and USD 252.2 million.
In Colombia, the retailer's turnover increased the household turnover by 20%, to USD 251.7 million.
Finally, in Brazil, where the group only operates with the home improvement category, sales fell by 1.1%, up to USD 48.6 million.