Colombia's Grupo Éxito Posts Strong First Quarter
Colombia-based Grupo Éxito has reported sales of COP$ 13.33 billion in its first quarter, a 12.9% increase on the same period the previous year.
The retailer attributed the sales to the ’strong sales performances in Brazil and Uruguay driven from the positive outcome of commercial activities’.
During the first quarter, the company, which is part of Groupe Casino, opened one Pao de Açúcar store in Brazil while the Aliados Compre Bem model brought as a synergy from Éxito also gained traction with 48 new partners during the same period.
The company reported that another eight stores are currently under construction, seven of which are Assaí (including five conversions from Extra Hyper format stores and two new stores) and two Minuto Pao de Açucar. They are scheduled to open in the second and third quarters of 2017.
Sales in Assaí stores alone grew by 28.8% in local currency. In the last 12 months, a total of 12 Assaí stores were opened, and this expansion greatly contributed to its growth.
The group reported that the level of Consolidated Group Capital Expenditure for the quarter was COP545,000 million. Of this amount, 41% was allocated to retail as well as real estate expansion and conversions.
The remaining 59% was used in maintaining and supporting operational structures, updating IT systems and for logistics.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O’Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.