Chile's protests cost Walmart $ 110 million in revenue in 2019

The protests that broke out last October in Chile meant a loss of $ 110 million in revenue for the US multinational Walmart, the Chilean parent company of the retail company explained on Tuesday in the analysis of the results of its 2019 fiscal year.

"The interruption in Chile negatively affected operating income by approximately 110 million dollars," Walmart Chile said in this document.

The company said that these losses are a consequence of the temporary closure of most of its stores due to social protests that have been taking place in Chile since October against the socioeconomic model of the country and the Government of President Sebastián Piñera, and that they already leave at least 30 deceased

"We experience weakness in some key international markets, as well as in Chile, where the disturbances caused disruptions in most of our stores," said the company from the state of Arkansas (USA).

Even so, the companies that make up Walmart in Chile last year recorded a profit of 14,881 million dollars, an increase of 123.1% compared to last fiscal year, in which the conglomerate obtained a profit of 6,670 million dollars.

Walmart owns the Hyper Leader, Express Express, Central Wholesale, Superbodega Acuenta and Ekono supermarkets in Chile, with a total of 371 stores.

On the other hand, the revenues of Walmart Chile during 2019 amounted to 519,926 million dollars, despite the social tension in the country and the interruption of activity in some of its stores.

The results have been diminished, in addition, by the strike in July of around 17,000 of its workers.

This meant the closure that day of about 130 supermarkets of the different formats that the US multinational operates in Chile.


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