Tottus sales up to June 2014 increased by 14.2% and amounted to 484 million dollars allowing them to continue to rank third in this market, closer to Supermercados Peruanos, the second supermarket chain after Cencosud.
Despite the slowdown in domestic consumption, the supermarket industry is one of the sectors that continue to grow in double digits, in Peru.
Two of the major players in this channel, Intercorp's Supermercados Peruanos, which ranked second in the sector, and Tottus Hypermarkets from Falabella, which ranked third, generated revenues for more than 1,106 million dollars between January and June 2014.
Supermercados Peruanos, with its brands Plaza Vea, Vivanda and Economax, had revenues for U.S. $623 million among its 98 stores in the country while Tottus approached the Peruvian leader with revenues for $484 million dollars in only 43 stores, 18 of which are located in the province.
According to financial reports filed at the Superintendency of Securities Market, when compared to the first half of 2013, both companies presented increases of about 10% and 14.2%, respectively.
The income gap between the two companies has gradually shortened and the national holding chain, which continues to occupy the third place in this industry that is still led by Horst Paulmann's Cencosud and its Metro and Wong brands, is taking a greater advantage.
Peruvian consultant Maximixe projected that the Peruvian supermarket industry would grow by 10.4% bill up to $4.554 million dollars this year.
Meanwhile, despite the sector's increase in turnover, investments are cautious: only five new stores were opened up by June 2014.
Source: estrategia.cl