Chilean retail giant Cencosud reported a 9.2% year-on-year increase in third quarter revenue, driven by digital sales expansion across all six of its operating countries.
Revenue reached 4.33tn pesos ($4.64bn), supported by performance in Chile and Argentina and growth in digital channels.
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Consolidated online sales increased 17.4% to 445.89bn pesos.
Online sales penetration rose by 141 basis points to 11.3% of total sales, while online transactions grew 14.6% to 8.2 million.
Argentina recorded a 58.5% YoY increase in online sales in local currency.
Cencosud also relaunched its Puntos Cencosud loyalty programme in Chile, combining its retail formats on one platform.
Net income rose 477.9% to 50.24bn pesos, driven by higher operating income, investment-property revaluation, and lower net financial costs.
Reported operating profit increased 58.4% to 244.943bn pesos.
Adjusted EBITDA fell 5.2% to 295.69bn pesos, representing a 6.8% margin.
Cencosud attributed the decline to cost pressures in Chile and the prior-year impact of selling the Bretas operation in Minas Gerais, Brazil.
Growth in adjusted EBITDA in Argentina, Peru, Colombia, and Shopping Centers partly offset these effects.
In Chile, the company opened nine stores, adding 2,956m².
Chilean supermarket revenue rose 2%, online sales increased 17.6%, and same-store sales returned to positive growth.
Argentina’s adjusted EBITDA rose 50.8%, while Portal Rosario added six retail brands across about 4,000m².
In Brazil, Cencosud openeda Giga store in São Paulo and reopened 14 of 22 refurbished stores, including four converted from Bretas to Prezunic in Goiás.
Peru’s online sales grew 20.1%, while Wong Prime subscriptions increased 48.1%.
Colombia continued profitability and cost-control initiatives, while The Fresh Market reported e-commerce growth and operational-efficiency measures in the US.
Cencosud CEO Rodrigo Larraín said: “The transformation we are driving is already delivering tangible results, with more customers, a stronger omnichannel ecosystem, and profitability improvements in key markets.
“Our focus remains on driving greater efficiency and scaling these capabilities across our entire portfolio, always keeping the customer at the centre of everything we do. We look ahead with confidence.”
