Colombia: Ara store sales grew by 24.4% in 2020

Discount Retail Chain Tiendas Ara (owned by Jerónimo Martins, listed Euronext: JMT) was one of those that had a positive balance in Colombia. At the end of 2020 it had revenues of Colombian Peso $ 3.94 trillion (US$1.1Bn) with a growth of 24.4% compared to 2019 The balance in our country was very satisfactory if one takes into account that the general and partial quarantines that took place from April to At the end of August, where they hit the economy hard, which could only be normalized at the end, which led to growth of 22.8% in the last quarter. During the year, its strategy to face the difficult environment was marked by a value proposition to have very competitive prices, reinforcing its own brands. In total, the company opened 56 new stores and closed nine to end the year with 663 points of sale, totaling 223,818 m2 of GLA for a monthly sale per m2 of Colombian Peso $ 1,467,500 (US$410/m2). At the same time, earnings before interest, taxes, depreciation and amortization (EBITDA) reached 1,423 million euros (US$1.7 billion). The operation in Colombia continues to show a deficit, closing at 20 million euros (US$24 million), 28% less than in 2019.


Jerónimo Martins SGPS, SA is a leading Portuguese company in the food retail sector and the manufacture of perishable food goods. The firm owns the Pingo Doce supermarket and hypermarket chains in Portugal, the Cash & Carry Recheio format chain of stores, the Polish supermarket chain Biedronka, the Hebe pharmacy chain and the Ara chain of stores in Colombia. This company is ranked 50 among the 250 largest stores in the world within the Global Powers Of Retailing Top 250, whose revenue in 2020 reached 19.3 billion euros (US$23 billion) with a growth of 3.5% compared to 2019. In its fourth quarter earnings report, its chairman Pedro Soares dos Santos affirms that, after a "year marked by unprecedented demands", the group "recorded a solid operating performance and strengthened its balance sheet." "We enter 2021 with renewed confidence in the ability of each brand to anticipate the impacts of the pandemic crisis continues and will continue to set the operational context, with greater intensity in the first half of the year," he added Within its portfolio of brands, Polish chain Biedronka participates with 69.8% of the global operation, followed by Portuguese Pingo Doce with 20.1%, Cash & Carry Recheio format chain, also from Portugal with 4.4% and Tiendas Ara of Colombia with 4.4% See here for more: https://igomeze.blogspot.com/2021/03/las-ventas-de-tiendas-ara-crecieron-en.html


11 views0 comments