Cencosud Sales Hit By Downturn And Currency Movements

Chilean retail group Cencosud has reported that its revenues declined in 2009 with results hit by a decline in consumer sentiment and the strengthening of the Chilean currency. In local currency terms Cencosud's revenues rose by 6.5% but a sharp appreciation of the Chilean peso meant that on a reported basis sales were down by 11.1%. However, the company reported that sales had picked up in the final quarter of the year, in line with an uptick in the wider economy. Cencosud has responded to this improvement in its operating environment by once again focusing on

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