Chile-based supermarket chain Distribución y Servicio (D&S) has reported that net profit for 2008 fell substantially to P20.1bn (US$33.8m) from P57.4bn (US$96.7m) the previous year, although sales increased to P2.14tn (US$3.6bn) from P2.08tn (US$3.5bn) in 2007.
In January, US retail giant Wal-Mart announced that it had acquired a majority stake in D&S of 58.2 per cent, with Felipe Ibáñez Scott and Nicolas Ibáñez Scott collectively retaining approximately 40.1 per cent of shares, leavingapproximately 1.7 per cent held by the public.
Additionally, Enrique Ostalé, general manager of D&S, recently confirmed that the company willopen 60 stores in Chile this year under the Ekono y Super Acuenta banner, and will begin entering the retail marketin Peru.
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