SMU - News

Amidst a raft of recent retailer activity, we take a closer look at how the convenience channel is expanding in Chile.  Shopping more frequently for smaller purchases   Walmart and SMU have both spoken about recent changes in shopping habits across Chile, as customers shop with greater frequency, and in smaller stores. This is being driven by changing lifestyles, and follows trends exper...
Chilean retailer SMU has reported revenue growth of 6.8% year-on-year for Q3. Three-year plan showing results Revenues for January to September were up by around 7%, attributable to sustained same store sales growth, improved sales per square metre and average basket size. SMU also reduced its losses for the first nine months of the year. Managing director Marcelo Gálvez said the improvemen...
Chilean supermarket chain SMU has appointed Álvaro Saieh, chairman of its majority shareholder CorpGroup, as its president. Move is designed to boost confidence in turnaround strategy Mr Saieh is tasked with leading the turnaround strategy at SMU, which has had problems with debt and with the integration of its multiple acquisitions in recent years. It has sold assets and closed some stores...
Chilean retail group SMU is to divest some of its businesses, including 40% of supermarket chain Monserrat and 100% of the Peruvian wholesaler Mayorsa. Group aiming to reduce debt The holding company, controlled by Chilean businessman Alvaro Saieh, hopes the sale will raise between USD300m and USD400m to reduce its debt. The announcement follows denials last week that such a sale was immi...