Falabella Thrives Despite Economic Slowdown In Chile, South America

Chile-based retailer Falabella reported net profits rose 16 percent to 95 billion pesos, or $136 million, in the third quarter of 2015. What makes this remarkable is that the company achieved this growth despite the economic slowdown affecting South America in general and the country in particular. Also, the company’s revenues rose 13 percent, compared with the previous year, despite the Chilean currency’s weakening compared with the dollar. Factors that have helped Falabella grow its business included its vast presence covering six countries in the region. In addition to its 101 department stores, the company also owns 102 supermarkets, as well as 39 shopping centers.