Tuesday , December 1 2020

Cencosud reported losses of $ 8.5 million in the third quarter Economy business



A Chilean retailer Cencosud reported on Thursday that losses of 5.612 million pesos were reported in the third quarter of this year, linked to a reduction in revenue due to accounting adjustments, but partly mitigated by lower costs.

The loss (equivalent to $ 8.5 million) is compared to profits of 28.354 million pesos ($ 42.8 million) for the same period last year, Cencosud told the local regulator.

The Chilean Holding Company pointed out that one of the reasons for the losses was inflation and exchange rate volatility in 2006 Argentina, one of the countries in which it operates.

The group based in Santiago and operational units in Argentina, Brazil, Chile, Colombia and Peru, thus registering a 25% revenue cut between July and September.

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In Peru, Cencosud has Wong and Metro supermarkets, Banco Cencosud and the Paris retail store.


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