Revenues fell by an average of 5 percent from their 2013 level
By David Ramirez
According to Latin Trade’s ranking of the Top 50 Retail Companies in Latin America, 2014 was a bad year for the region’s retailers, as their revenues fell by an average of 5 percent from their 2013 level to $313.8 billion.
Out of the 50 firms in the ranking, 38 registered lower revenues, with some of the largest retailers posting double-digit reductions. This was the case with Casino, number two in the ranking, whose revenue dropped 14 percent last year.
The performance of Carrefour, another French retailer, was even worse on a consolidated basis across the region. Carrefour France, at number five, which comprises operations outside Brazil and Argentina, registered an 11 revenue decline. Meanwhile, revenue fell by 10 percent in the case of Carrefour Brazil (6th) and by 18 percent for Carrefour Argentina.
The latter was the worst revenue performer in the ranking, followed by the declines of 17 and 14 percent in the operations of Cencosud Colombia (44th) and Exito (21st). These two firms also disappointed in terms of profits. The latter reported a profit drop of 16 percent, while the former posted losses, though 27 percent lower than in 2013.
Wal-Mart de Mexico, known as Walmex, which remained Latin America’s top retailer, experienced an 8 percent revenue drop in 2014. The operations of the other units of the US retailer in the region also underperformed, with …
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