SANTIAGO, Chile. 2016 was a rosy year for Chilean retailers, because they saw profits jump between 77% and 80% relative to 2015, according to two Chilean newspapers.
The stories covered the 6 major retailers in the country, with 3 of them reverting losses posted in 2015, the newspapers said.
In Chile, the 6 largest retailers play a major role in society.
There is a chance that you will come into contact with one of them every day, because the two largest ones, for example, operate not only big department stores in malls or in the shopping areas of the cities, but also country-wide supermarket chains, malls, and they have even branched out into banks offering you loans, bank accounts and credit cards.
The stories indicated that the profit figures were taken from the reports submitted by the retailers to the Chilean regulator of the industry, known has Superintendency of Securities and Insurance.
But, it was noted, the success came at a price ---the retailers slashed 22,000 over the last 5 years.
The stories covered the 6 major retailers in the country, with 3 of them reverting losses posted in 2015, the newspapers said.
In Chile, the 6 largest retailers play a major role in society.
There is a chance that you will come into contact with one of them every day, because the two largest ones, for example, operate not only big department stores in malls or in the shopping areas of the cities, but also country-wide supermarket chains, malls, and they have even branched out into banks offering you loans, bank accounts and credit cards.
The stories indicated that the profit figures were taken from the reports submitted by the retailers to the Chilean regulator of the industry, known has Superintendency of Securities and Insurance.
But, it was noted, the success came at a price ---the retailers slashed 22,000 over the last 5 years.
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