Forus, which distributes several brands, such as Columbia and Hush Puppies, stated that it plans to open over ten stores in Chile, despite the country’s social crisis, and that the store closure plan has been primarily focused in Peru and Colombia.

Firm will conclude its plan to reduce unprofitable premises, started in 2016

The transaction includes two stores located in the main shopping centers of that country.

Swett family firm debuted in Peru with its first e-commerce channel

Currently, Forus markets its products through 511 stores in operation, of which 335 are in Chile, 65 in Peru, 59 in Uruguay and 52 in Colombia.

According to Hugo Ovando General Manager, five openings will be in Uruguay, a small country, but with good internal conditions for its portfolio.

The increase in sales is mainly explained by the 8.2% increase in sales in Chile, which accounted for 82.3% of consolidated sales, and to a lesser extent by sales of subsidiaries, which increased by 13,7% as a whole, driven by growth in Uruguay and Peru during 2Q’17.

For 2017 the company intends to open 20 new stores

EBITDA of MM$ 11,104 grew 5.1% compared to 4Q’15, reaching an EBITDA margin of 18.0%, increasing by 31 basis points from 4Q’15.