Latin America News & Analysis

19 March 2013
Walmart de México y Centroamérica is to invest USD30m in Nicaragua in 2013, which will be directed at new store openings. Maintaining levels of investment According to local press reports, the retailer will invest in seven new outlets in Nicaragua, to add to its existing portfolio of discount stores and supermarkets.  Corporate affairs manager Eduardo García said the rate of openings would ...
13 March 2013
Jerónimo Martins has announced that it has opened its first stores in Colombia, in Pereira, as part of its expansion into a new market. First store opened in Paisa region The company’s first five Ara stores and its first distribution centre will be opened in the chosen region due to the logistic advantages that it provides. The company said that the stores will measure between 300 sq m and 60...
12 March 2013
Costco’s second quarter sales, for the 12 weeks to February 17, increased by 8.2% to $24.3bn, with comparable store sales (excluding the impact of fuel and currency), up 5%. Net income attributable to Costco increased by 38.8% to $547m. A resilient model despite economic headwinds Costco delivered a strong set of results for the quarter, despite the headwinds of higher payroll taxes and ...
12 March 2013
Chilean convenience retailer OK Market plans to almost quadruple store numbers by 2017, according to local press. Operated 90 stores at end 2012 OK Market began operating in 2002 and has build a presence in the regions of Metropolitana, Valparaíso and Los Ríos.  By the end of 2012 it had grown to 90 stores and, according to the report, aims to reach 300-340 by the end of 2017.  It targets sal...
07 March 2013
Carrefour revealed solid full year sales of €76.8bn, a 0.9% increase year-on-year, but there's hard work ahead to drive growth in 2013. Reducing its debt by divesting of operations in non-core markets and seeing more than three-fold increase in net profit to €1.23bn marks the start of a new strategic phase for the retailer. Improvements in the domestic market In France Carrefour delive...
07 March 2013
Following solid full year results, CEO Georges Plassat has outlined Carrefour's plans as strategy transitions from review and refocus into action. Investment: how Carrefour plans to reinvigorate larger stores Carrefour's strategy of review and refocus has seen the divestment of operations in five markets over the year. Combined with a drive towards greater operational efficiency, ...
06 March 2013
Chile's Falabella achieved consolidated revenue growth of 11% in Q4 2012, and a full year increase of 15%. New stores driving non-banking revenue Revenue from non-banking businesses grew by 10.5% in Q4, mainly driven by an increase in sales area following the opening of 18 new stores.  Positive same-store sales growth reinforced this performance.  Expansion accelerated in the fourth quar...
04 March 2013
Mexican retail group Controladora Comercial Mexicana (CCM) has reported net sales growth of 5.3% for 2012. Mexico City and metropolitan areas achieved best performance CCM said it saw solid increases in sales across all formats, especially supermarkets, as well as a better performance in the central and Mexico City  metropolitan areas; this was also the case in the fourth quarter.  Operat...
04 March 2013
Leading Chilean retailer Cencosud has reported consolidated revenue growth of 20% for the full year 2012, mainly driven by over 150 new stores. Double-digit increase in operating profit The new stores included 31 supermarkets acquired from Prezunic and 39 department stores from Johnson.  Along with one month's worth of consolidation in Colombian supermarkets, and positive same store sales ...
28 February 2013
FEMSA Comercio, operator of Oxxo convenience stores in Mexico, has reported same store sales up 7.7% for 2012, as it surpassed the milestone of 10,000 stores. Expansion driving sales increase Oxxo opened 1,040 stores in 2012, 434 in the fourth quarter alone, as it reached 10,601 outlets, in line with its 2012 objective.  Customer traffic was up 3.8% for the full year, while the average basket...