SANTIAGO Feb 19 Chilean retailer Cencosud said
on Tuesday it expects regional expansion to help boost sales by
about 25 percent in 2013 to $22.5 billion, a level below that
forecast by the company late last year.
Cencosud , which has more than doubled the
number of stores it operates since 2005 through growth and
acquisitions, made its most recent big purchase last year with
the $2.6 billion acquisition of French retailer Carrefour's
After announcing the Carrefour deal, chairman Horst Paulmann
said the expanded business should boost sales to $24 billion
Through the first three quarters of 2012, Cencosud's revenue
rose 21 percent versus a year ago to 6.568 trillion pesos, or
$13.9 billion. Cencosud had forecast sales of
around $18 billion last year.
The increase was driven by the consolidation of Brazilian
supermarket chain Prezunic and Chilean department store chain
Johnson's, double-digit gains in same-store sales in Argentina
due to inflation, and the opening of 76 new stores.
Cencosud also said it will decrease capital expenditures for
organic growth this year to $731 million to add 58 new stores,
from an estimated $1.285 billion in 2012 to improve debt levels.
The diversified retailer already operates about 900
supermarkets, department and home improvement stores and
shopping malls in Argentina, Brazil, Chile, Colombia and Peru.