18 May 2022
The Weekly
Chile

After reporting historic profits last year, Falabella registered a sharp drop in its profits in the Q1/2022 of 2022, recording $92mn, a decrease of 47.2% compared to the same period last year. The consolidated EBITDA also suffered a drop of 17%, reaching $371mn, mainly explained by the 22% increase in administrative and sales expenses. Falabella had higher expenses in technology, salaries, rentals, advertising and extraordinary logistical costs associated with delays in international freight. However, the income of the holding company grew 18.2% in the Q1/2022, totalling $3,719mn. This is explained by the 15% increase in revenue in retail businesses; highlighting the growth in sales of 16% in Home Improvement and 14% in Department Stores, both in Chile. Likewise, there was a growth in the income of the banking segment (35%) and a recovery of the shopping centres to the rise by 53%.

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