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Colombia: Ara discounter results over 2022

Updated: Mar 28, 2023

Discount Retail Chain Ara (owned by Jeronimo Martins), which is in Colombia and has just celebrated 10 years of operations. Ara said that it represented 7% of total sales in the JM group, which increased by 60.5% and reached 1,768 million euros, with a commitment to "low prices" and promotions.

Ara closed the year with 1,093 stores, 274 more than the previous year. As second largest discount chain in Colombia. By 2023, the expansion of the discount chain "will remain a priority", with the forecast of opening another 200 stores.

Jerónimo Martins pointed out that for 2023 a "deflation scenario is expected, especially in the second quarter, but "it is still difficult to anticipate at what level".

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