Santiago-based retail group Cencosud has announced that it expects regional expansion to push sales forward in 2013 to around US$22.5bn, and increase of around 25 per cent on the previous 12 months.
The figure is lower than an estimation made by chairman Horst Paulmann last year in the wake of Cencosud's acquisition of Carrefour's Colombian operations, when he said the expanded business could bring in sales of US$24bn, Reuters reported.
Cencosud also noted that it would aim to lower capital expenditures for organic growth to US$731m this year with the aim of adding 58 new outlets.
