These "red numbers" reflect a lower operating contribution due to the slowdown in consumption, as well as higher non-recurring expenses explained by the restructuring process in Colombia.

Colombian retail chain Almacenes Éxito has recorded losses of 56.598 billion Colombian pesos (US$ 13.8 million) in the first half of the year, compared to profits of 38.934 billion Colombian pesos (US$ 9.5 million) in the same period last year.

These "red numbers" reflect a lower operating contribution due to the slowdown in consumption, inflationary pressures on costs and exchange rate impacts, as well as higher non-recurring expenses explained by the restructuring process in Colombia.

The company's sales fell 2.1% year-on-year to 10.35 trillion Colombian pesos (US$2.541 billion).

By market, sales in Colombia, which account for around 70% of its turnover, grew by 1.3%. In contrast, sales fell by 9.1% in Uruguay and 14.7% in Argentina.

Gross operating profit (EBITDA) fell by 20.6% compared to the same half of the previous year, to 594.88 billion Colombian pesos (US$ 146 million). The EBITDA margin was 5.7%, 1.33 percentage points lower.

For its part, the operating result has been 41% lower than that recorded between January and June 2023. Thus, it has stood at 243,391 million Colombian pesos (US$ 59 million).

Grupo Éxitó invested 163.567 billion Colombian pesos (US$ 40 million) during the first half of the year, of which 72% was allocated to expansion, innovation, omnichannel and digital transformation activities during the period. The remainder was for maintenance and support of operational structures, updating of IT systems and logistics.