Cencosud grows, but fights with currencies

A mixed balance is the result for the Chilean Cencosud group and its home improvement business in the second quarter. Overall, the division achieved sales of CLP 300.225 bn, thus 5.5 per cent less than in the same period last year. However the negative figure is down to the weak currencies in Argentina and Colombia, because sales rose by 10.5 per cent in local currencies.
On the home market of Chile, the Cencosud division recorded an increase of 7.7 per cent to CLP 132.539 bn with the Easy stores, 7.9 per cent in same stores sales. Sales in Argentina (sales channels Easy and Blaisten) grew in Argentinian pesos by 33.3 per cent (with an increase in same stores sales of 29.8 per cent), however after conversion to Chiliean pesos, sales dropped by 15.5 per cent to CLP 151.800 bn. In Colombia (Easy), a growth of 5.7 per cent to CLP 15.917 bn was achieved. Both in local currency as well as in relation to the same store sales, the increase amounted to 10.5 per cent.
The following results were achieved for the half-year balance:
Chile: CLP 268.655 bn, 3.7 per centArgentina: CLP 324.411 bn, nominally -9.9 per cent, in local currency 23.5 per centColombia: CLP 31.355 bn, nominally 2.7 per cent, in local currency 5.1 per centTotal: CLP 624.422 bn, nominally -3.9 per cent, in local currencies 14.8 per cent