(Reuters) – Chilean retailer Falabella on Tuesday reported a third-quarter net loss of 24.87 billion pesos ($25.7 million), down from the 183 billion peso profit seen one year ago, hit by
a decrease in margins and increases in expenses.
Its third-quarter net revenue grew 2.4% to 2.97 trillion pesos.
The company’s consolidated earnings before taxes, interests, depreciation and amortization (EBITDA) fell 54.1% to 178.81 billion pesos in the quarter.
The company’s results come after “a quarter that faced a high comparative base, demonstrated by the impacts of the complex global and local scenario, in addition to the economic slowdown in the region,” Falabella Chief Executive Gaston Bottazzini said in a statement.
(1 dollar = 966.00 Chilean pesos by end-September)
(Reporting by Noe Torres and Fabian Cambero, Writing by Carolina Pulice; Editing by Brendan O’Boyle)
