Latin America News & Analysis

19 September 2013
E-commerce platform eBay has launched a Portuguese language version of its Moda fashion app in Brazil, its first product specifically designed for the Brazilian market. Part of a plan focusing on emerging markets The app will be available from the end of September with Apple, with an android version to be rolled out later. Its launch is part of eBay's larger plan to deliver selection and...
11 September 2013
Walmart de México y Centroamérica has announced an agreement with Alsea, under which Alsea will acquire 100% of the retailer's restaurant division, VIPS. Part of Walmex's plan to simplify operations Walmex's restaurant division operates under various banners: VIPS, El Portón, Ragazzi y La Finca. The transaction, worth MXN8.2bn, has yet to be approved by regulatory authorities. Alsea will...
10 September 2013
Latin American wholesaler PriceSmart is to open its first store in the Colombian capital, Bogotá, in 2014 say local press reports. Expanding network in Colombia Although PriceSmart has clubs in Colombia already, with its most recent opening in Cali in May 2013, this would be its first venture into the capital. According to reports, the retailer has purchased a plot of land to the west of Bog...
09 September 2013
Abilio Diniz has stepped down as the chairman of GPA, reaffirming Casino's full control of the Brazilian group. Casino now controls 100% of GPA Mr Diniz has exchanged his shares in the holding company Wilkes, and resigned as its director. He will receive the same number of listed preferred GPA shares, without voting rights. He steps down as chairman of the GPA board and any pending legal...
06 September 2013
Venezuelan retailer Abastos Bicentenario has named Fabiana Rodríguez as its new president, replacing Rafael Coronado, according to press reports. Will head up this state-owned retailer Abastos Bicentenario is a state-owned retailer and is part of the public food distribution network in Venezuela. It was formed in 2010 following the government's acquisition of the Cativen chain, owned by F...
03 September 2013
Walmart Chile has reported a year-on-year revenue increase of 9.9% for the second quarter, with EBITDA up 14.2%. Revenue increase driven by retail segment The retail segment, which contributes 95% of revenue, grew sales by 10.8% during the period, due to an increase in comparable store sales. Walmart Chile operated 331 stores at 30 June 2013, spanning 761,000 sq m; three new stores opened...
02 September 2013
Cencosud has reported consolidated revenue growth of 14% for Q2 2013, driven by its Colombian acquisition and higher revenues from the home improvement, department store and shopping centre divisions. Supermarket division revenues up 15% The consolidation of the Carrefour Colombia business, positive same store sales in almost every country and 73 new stores since June 2012 boosted reve...
29 August 2013
Carrefour has reported net sales growth of 1.4% for the first half 2013 and recurring operating income growth of 7.7% (both at constant exchange rates). 'Much improved performance' in France offsets weakness in southern Europe Sales in France came in at -0.3%, with food sales remaining firm. Recurring operating income was up 75.4% and Carrefour said profitability was good in all form...
19 August 2013
Mexican retail group CCM has updated its guidance for 2013 and is to invest MXN1,735m in new store openings, conversions and renovations. Fewer new stores but strategic objectives remain the same Fewer new stores will open in 2013 than previously stated , as a delay in some projects means they will not be completed until 2014. The rate of refurbishments and store conversions will continu...
16 August 2013
Walmart reported international sales growth of 2.9% for Q2 on 15 August. We take a closer look at its performance in Latin America. Slowing growth in Mexico Net sales increased 3.1% over last year, with comparable store sales down 1.6%, negatively affected by the timing of Easter. A general slowdown in consumption in Mexico, which has been reported by other retailers over the past few ...