Colombia’s largest retailer, Almacenes Exito, posted a net
profit of 27.3 billion pesos ($13.8 million) in the first half of the
year, down 39% from COP45.1 billion in the same period in 2008, the
company said late Wednesday.
Operating revenue declined to COP3.31 trillion in the first half of
the year, down from COP3.39 trillion in the same period a year-earlier,
the company said in a filing to the securities regulator Wednesday.
Carlos Mario Giraldo, the company’s Chief Operating Officer,
recently said 2009 is a challenging year as the economic slump makes
consumers buy less.
The Colombian statistics department recently said retail sales had fallen 5.2% during the first five months of the year.
Exito is controlled by French retailer Casino Guichard-Perrachon SA (12558.FR).
Exitos’s shares trade over the counter in New York.
Exito operates stores in the country under the Exito, Ley, Pomona,
Carulla and Vivero brands. It also has a stake in Cadenas de Tiendas
Venezolanas, or Cativen. (Dow Jones)