Colombia news

26 July 2019
France-based Casino has said its consolidated net sales rose by 1.1% in total, to €8.988 bn, with same-store sales up by 2.3%. The retailer’s performance was driven by the continued strength of its Latin America-based operations, with support coming from its stores in France and Cdiscount. Separately the retailer highlighted several highlights it had generated in the first half. For our look a...
03 July 2019
France-based Casino has announced plans to restructure its Latin American operations. The changes will see it control its Latin America-based business divisions in Argentina, Brazil, Colombia and Uruguay through a 41.5% stake in Brazil-based Grupo Pão de Açúcar (GPA).  GPA to acquire all shares in Éxito Through an all-cash tender, GPA will acquire all shares of the Colombia-based Éxito. The...
02 July 2019
Canada’s leading dollar store chain, Dollarama, has acquired a 50.1% interest in Latin American value retailer, Dollarcity. This builds on the existing cooperation agreement between the two chains. Commercial agreement since 2013 Dollarama and Dollarcity entered into a commercial agreement in 2013. This focused on sharing business expertise and in Dollarama providing sourcing services to Do...
23 May 2019
In the first quarter Grupo Éxito reported net sales of COP2.64tn (US$788.9m) in Colombia, a growth of 2.5%. Same-store sales (SSS) grew by 2%, which was mainly due to strong like-for-like performance of stores under its Éxito banner, as well as higher volume and traffic. At a group level Grupo Éxito reported a consolidated net revenue of COP14.3tn (US$4.19bn) in Q1, which represents a 3.9% i...
23 April 2019
Chile-based Cencosud are one of the top five grocery retailers in Latin America, with operations in Argentina, Brazil, Chile, Peru and Colombia. The business has announced plans to invest US$300m in 2019, of which 50% will be invested into new and remodelled stores. A third will be invested into enhancing its ecommerce business.   Cencosud forecast consolidated revenues of US$15,194m for 2019 ...
08 March 2019
Net sales in Colombia have improved in the last four consecutive quarters. In Q4 net sales reached COP15,380.0bn (US$4.9bn), up 2.2%. This steady improvement was driven by the opening of 17 stores (including conversions) and the implementation of innovative new banners. The business, at a corporate level, reported strong consolidated net revenue growth of 8.9% for FY 2018 and 10.2% for the fou...
06 December 2018
Currency volatility and reduced consumer spend have proved challenging for Chile-based Cencosud, who appointed a new CEO and new regional business leaders during Q3. We dive further into the retailers Q3’s results and its performance in all its markets. The currency depreciation of the Argentine peso and Brazilian real against the Chilean peso have been the biggest contributing factor to an -8...
21 November 2018
Casino-owned, Colombia-based Grupo Éxito has released its Q3 results. The retailer reported an increase in consolidated net revenue of 9.5%, to US$4bn, before adjusting for exchange rate differences. The group recorded growth in each of its four operating countries; Argentina, Brazil, Colombia and Uruguay. At the end of the quarter, Grupo Éxito had a total of 1,536 stores; 29 in Argentina, 870...
15 November 2018
Ara, a discount banner based in Columbia will invest between €500M to €600M to open more stores in the country over the next two years, Portafolio reports. Ara is owned by Portugal-based group Jerónimo Martins. Funding from the International Finance Corporation In addition to other sources, the International Finance Corporation (IFC), an arm of the World Bank, will help to fund Ara’s expans...
31 October 2018
Group net and services sales grew 7.3% to reach €12.8bn in 9M 2018, with (like-for-like) sales up 3.4% compared up 9M 2017. All banners performed well and reinforced their market shares in the context of positive consumer environments and low food inflation. For FY 2018 CAPEX is expected at €700 to €750M, covering store network expansion and remodellings. 9M 2018 Performance by banner ...