South America’s Grupo Éxito Q1 Net Income Tops $22 Million

South America’s Grupo Éxito Q1 Net Income Tops $22 Million

Grupo Éxito’s logo. Grupo Éxito

Hypermarket operator, Grupo Éxito, which has over 2,600 stores across its home market of Colombia, as well as Argentina and Uruguay, saw net income of almost $85 billion pesos ($22.13 million) in the first quarter of 2021, according to a Semana report.

The group’s EBITDA stood at almost $307 billion pesos ($80 billion), consolidated revenues decreased 1.9 percent and sales decreased 4.1 percent year-on-year, the latter explained by a rush on supermarkets in March 2020 at the onset of the pandemic in the region, which boosted sales for the same period last year.

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