Falabella Profit Rises 18% in Third Quarter
Chilean retail group Falabella reported third-quarter net income of US$196 million, up 18%, and revenue up 9.6% to US$3.52 billion. The post Falabella Profit Rises 18% in Third Quarter appeared first on The Rio Times .
Falabella, a Chilean retail group, reported an 18% increase in net income to US$196 million in the third quarter, driven by a 9.6% rise in revenue to US$3.52 billion. The company, which operates in department stores, home-improvement stores, supermarkets, and a bank, maintained a strong performance despite a challenging consumption environment in the region, as stated by general manager Alejandro González.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by about 12% in the quarter. Falabella currently has 39 million clients across its business lines, including department stores, home-improvement stores, supermarkets, and its bank. The company operates in Chile and other Latin American countries.
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