Sales have risen above 5.7 trillion Chilean pesos (US$ 6.28 billion), 6.1% more than in the first six months of 2023.

Chilean retail chain Falabella posted a net profit of 173.379 billion Chilean pesos (US$ 191 million) in the first half of the year, compared to losses of 5.153 billion Chilean pesos (US$ 5.6 million) in the same period last year.

Sales have risen above 5.7 trillion Chilean pesos (US$ 6.28 billion), 6.1% more than in the first six months of 2023, according to the results report.

This increase is explained by lower levels of sales declines at the main retailers , and by a positive effect resulting from the depreciation of the Chilean peso.

Outside its domestic market, Falabella's consolidated revenues in Colombia grew by 36% compared to the previous year, mainly explained by the conversion of local currency to Chilean pesos.

In Brazil, sales increased by 23.1% year-on-year, due to higher demand. In Peru, the company's sales rose by 14.4% year-on-year.

Gross operating profit (EBITDA) has increased by 123% year-on-year, more than doubling the figure for the same period last year, reaching 621,807 million Chilean pesos (US$ 685 million).

Meanwhile, the operating result for the first half of the year reached 390,134 million Chilean pesos (US$ 429 million), which is equivalent to multiplying by 8.6 the number reached between January and June 2023.

As for the second quarter of the year, Falabella recorded a net profit of 122 million Chilean pesos (US$ 134,416). This figure represents a 135% increase compared to the profits between April and June 2023.

Revenues grew 8% year-on-year to 3.074 billion Chilean pesos (US$3.3 million). Meanwhile, the company more than doubled its EBITDA in the second quarter, with an increase of 131% to 334 million Chilean pesos (US$367,991).

Falabella's general manager, Alejandro González, has highlighted that the quarter has closed with "solid financial and operational results", with an EBITDA margin of 11.2%, a level that has not been recorded since 2021.