Falabella's home improvement sales down 20 per cent year-on-year

The home improvement division of the Chilean retail group Falabella generated 19.2 per cent less turnover in Chile in the third quarter than in the same period last year. Turnover fell to CLP 525.076 bn (EUR 558 mio). In Peru, the division's sales fell by 21.2 per cent to CLP 172.062 bn (EUR 183 mio), or by 19.0 per cent when adjusted for currency effects. In Colombia, the division reported a drop of 7.6 per cent (-6.6 per cent in local

currency) to CLP 294.858 bn (EUR 313 mio). In Argentina, there was an increase of 147.2 per cent in local currency, but this was driven by inflation; calculated in Chilean pesos, the division recorded a drop of 9.3 per cent (CLP 37.466 bn, EUR 40 mio). The decline in Brazil was 9.0 per cent (local currency: -8.1 per cent) to CLP 67.025 bn (EUR 71 mio). Only in Mexico did Falabella record growth with its home improvement trade: -24.4 per cent (-14.2 per cent in local currency) to CLP 43.663 bn (EUR 46 mio).

During the reporting period, the company opened one Sodimac store in Mexico, one in Peru and one in Colombia, as well as its first Ikea store in Colombia.