SANTIAGO May 14 Chilean retailer Falabella's
net profit rose 30.1 percent in the first quarter,
boosted by higher revenue, an increase in its credit business
and a lack of provisions that weighed on margins last year, the
company said on Tuesday night.
In the January to March period, net profit climbed to 93.85
billion pesos ($199 million), the retailer said in a statement
to the securities regulator.
New stores helped push up the quarter's revenue by 8.7
percent to $3.14 billion.
Falabella operates in Argentina, Colombia, Chile and Peru.
Chilean retailers have aggressively expanded throughout much of
Latin America, which is riding a boom of consumer spending on
the back of robust economic growth.