Latin America News & Analysis

17 December 2013
Chilean supermarket chain SMU has appointed Álvaro Saieh, chairman of its majority shareholder CorpGroup, as its president. Move is designed to boost confidence in turnaround strategy Mr Saieh is tasked with leading the turnaround strategy at SMU, which has had problems with debt and with the integration of its multiple acquisitions in recent years. It has sold assets and closed some stores...
11 December 2013
Costco’s first quarter net sales increased by 5.4% to $24.5bn, with comparable store sales (excluding fuel and currency impacts) up 5.0%. Net income attributable to Costco increased at a slower rate of 2.2% to $425.0m, mainly due to higher than anticipated operating expenses. Fresh foods among best performing departments This was another solid performance from Costco overall, although pro...
11 December 2013
Jean-Charles Naouri, chairman of GPA's board, has talked about the retailer's priorities in an interview with Brazilian journalists in Paris. Accelerating development Mr Naouri said a new phase would begin now that Casino has gained full control of the GPA business, and reiterated the retailer's ongoing commitment to and pride in the market.   Priorities include cash & carry Mr Naour...
10 December 2013
Walmart Chile has reported an increase of 9.4% in revenue for the first nine months of 2013, and profits up 3.71%. Continues to open new stores The retail segment was the main driver of growth, with an increase of 9/9%, helped by an increase in same store sales. Walmart Chile ended the quarter with 777,000 sq m of sales area, spread among 336 outlets; five new stores opened in the th...
09 December 2013
Speaking to the trade press, Carrefour France's executive director Noel Prioux has said that investments in people and in renovating stores have driven improved performance in recent months. 'October and November are good' Mr Prioux said more than half the hypermarket estate has been revamped in 2013, with the remainder to be completed next year. Investments have also been made in aroun...
05 December 2013
Peruvian grocery retailer Supermercados Peruanos has revealed a more modern logo for its Plaza Vea hypermarkets. Fresh, innovative and modern image The red and yellow colours from the original logo on the left remain, but the shopping bag has been removed. The strapline has also been changed, from 'everything costs less' (todo cuesta menos) to 'save more, enjoy more' (ahorra más, disf...
05 December 2013
.style1 { text-align: center; } At IGD, we keep a close eye on innovations in the food and consumer goods industry around the world. Brazil is one of the world's largest grocery markets, worth over $360bn. With a population of 200 million, this is a country with huge potential. Here are some innovations that we've seen in Brazil, which are trying to capture consumers' attention in this dy...
28 November 2013
At the retailer’s 2013 investor day, Portugal-based Jerónimo Martins has set out its vision for what the company will look like in 2016, saying the Biedronka will remain its engine for growth, while it will continue to enhance value in Portugal and expand in its new market of Colombia. Retailer sets out annual sales growth targets Jerónimo Martins said that it was expecting annual sales growt...
19 November 2013
Cencosud has reported a 14% rise in revenue, in Chilean peso terms, for the third quarter of 2013, driven by supermarkets and a good performance in Chile and Argentina, but a fall in net profit. Positive revenue growth across region All divisions posted positive growth in revenue and Cencosud opened a net 11 stores across its operating markets. It pulled out Argentina as a highlight of ...
18 November 2013
Walmart reported international sales growth of 0.2% for Q3 last week. We take a closer look at its performance in Latin America. Central America outperforming Mexico Consolidated net sales increased by 2.2%, led by Central America where sales were up 4.8%. In Mexico, sales were up 1.7% over last year, but the economic slowdown affected comparable store sales which were down 2.8%. Walmex's ...