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Devaluation is corroding Cencosud’s sales increase

The Chilean trading company Cencosud made sales of CLP 1 294 bn in its home improvement division last year. This is a drop in sales of 11.9 per cent. The reason for this decrease is the devaluation of the Argentine peso compared to the Chilean peso. Cencosud's sales, which were made by the sales channels Easy and Blaisten in Argentina, increased in local currency in the fourth quarter by 17.2 per cent and like-for-like sales grew by 15.0 per cent. When converted to Chilean pesos however, these figures dropped by a total of 22.0 per cent to CLP 710 bn in 2016.

In the Chilean home market, Cencosud's Easy stores increased their sales in 2016 by 5.1 per cent to CLP 520 bn. Here there was an increase in same stores sales of 7.9 per cent in the fourth quarter. In Columbia the group reports a rise at Easy stores of 0.4 per cent to CLP 63 bn. In the fourth quarter, sales in local currency here grew by 5.4 per cent, in same stores sales by 5.3 per cent.

|10 March 2017


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