Bloomberg News

Almacenes Exito Plans to Invest $200 Million in 2012 Expansion

February 22, 2012

Feb. 22 (Bloomberg) -- Almacenes Exito SA, Colombia’s biggest publicly-traded retailer, will invest as much as $200 million in its 2012 expansion that will focus on opening stores in low-income areas and express shops in urban areas, said Chief Executive Officer Gonzalo Restrepo.

The company will use funds it already has, including from last year’s $1.4 billion share sale, to pay for the expansion, Restrepo said in a conference call with reporters today. Stores acquired in Uruguay last year contributed positively to the company’s fourth-quarter earnings, he said, without giving further details.

--Editor: Brendan Walsh

To contact the reporter on this story: Blake Schmidt in Bogota at bschmidt16@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net


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