Cencosud growing and fighting inflation in Argentina

The Chilean retail group Cencosud recorded sales amounting to CLP 1 130 bn (EUR 1.226 bn) by its home improvement division in 2019. Although that equates to 20.2 per cent more than in the previous year, it is 5.1 per cent less when adjusted for currency effects. The main problem was strong inflation in Argentina, where Cencosud recorded sales worth CLP 504.381 bn (EUR 547 mio). In the national currency this was equivalent to an increase of 36.6 per cent, but with currency adjustments a decline of 14.4 per cent.
In its home market in Chile, Cencosud increased its DIY sales by 3.7 per cent to CLP 553 927 bn (EUR 601 mio). Sales in Colombia rose by 6.1 per cent, and adjusted for currency effects by 7.5 per cent, to CLP 71.319 bn (EUR 77 mio). The number of stores and retail areas remained the same in all three countries.