Double-digit growth in the third quarter for Cencosud

The Chilean retail group Cencosud increased its home improvement sales in the third quarter of 2020 by 28.9 per cent to CLP 339.552 bn (EUR 340 mio). In Chile, sales rose by 60.6 per cent to CLP 196.894 bn (EUR 197 mio). The increase in Argentina was nominally 33.1 per cent more than in the same quarter the previous year; due to high inflation and currency devaluation, however, this equates to a fall in sales of 0.4 per cent to CLP 112.622 bn (EUR 113 mio). In converted currency, the stores in Colombia recorded sales of CLP 19.302 bn (EUR 19 mio), equivalent to growth of 14.2 per cent or of 12.4 per cent in local currency.
Online sales accounted for a significantly increased share of overall home improvement sales, rising from 3.2 per cent in the third quarter of 2019 to 10.8 per cent in the third quarter of 2020.