Colombia’s largest retailer, Almacenes éxito, has recorded net profits of over US$7.5bn for 2010 – an impressive increase of 73 per cent compared with 2009, according to a press release from the company.
The Casino-owned group said sales were driven by new store openings, rising 7.6 per cent, while same-store-sales grew 5.7 per cent.
In 2010, éxito closed the year with 299 stores in 54 cities after opening 14 new stores and converting 38 to more adequate banners, as well as adding 31 points of sale under the group’s alliance with Cafam.
“2010 will be remembered as one of the best years ever for éxito Group, with outstanding results fruit of our customers' confidence, commercial dynamism linked to our innovation, our expansion plan, our impressive banner conversion plan, and a winning strategic alliance with Cafam. Our internal strategy along the national economy context, yielded us a memorable year,” said Gonzalo Restrepo, éxito Group CEO.
éxito is anticipating strong domestic consumption and retail sales to continue this year, according to chief operating officer Carlos Giraldo.
“We are positive about consumer consumption,” said Mr Giraldo, adding that Colombia’s economy is expected to grow by around 4.5 per cent this year.
éxito’s “big plans” for fiscal 2011 include “innovative commercial execution” and the continuation of the company’s “operating excellence” initiatives.
As part of the company’s social responsibility actions, last year éxito delivered 3,051 tonnes of fruit, vegetables, and non-perishable goods to Food Banks in 25 cities across Colombia.
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