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.

In July of this year, Forus acquired the license of the Columbia brand in Uruguay.

Greater value Creation Retail Industry – Top 100 Ranking Chile – Latam – Capital Magazine

According to Marisol Céspedes, General Manager of the Company, the company has been affected by the devaluation of the currency in the region. Therefore, they have been using financial tools to offset the effect.

Starting on March 1, the manager of Retail Peru, Gonzalo Sotomayor, assumes as new Country Manager of Forus Peru.

The investment bank started its coverage highlighting the historical benefits of the company and its zero exposure to credit business.

The retailer reported results broadly in line with what analysts expected. Forus sales were positive note for the fourth quarter, as they were 10% above what analysts were expecting. The retailer reported revenues of $63,160 million for the fourth quarter, while net profit was well near the forecasts collected by El Mercurio Investments, adding $ […]