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Almacenes í‰xito profit misses consensus by 35.3% in Q1

Almacenes Éxito SA said its normalized net income for the first quarter amounted to 121.28 Colombian pesos per share, compared with the S&P Capital IQ consensus estimate of 187.46 pesos per share.

EPS declined 39.9% year over year from 201.69 pesos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 54.29 billion pesos, a decrease of 39.9% from 90.28 billion pesos in the year-earlier period.

The normalized profit margin fell to 1.1% from 3.7% in the year-earlier period.

Total revenue grew 28.4% year over year to 3.091 trillion pesos from 2.408 trillion pesos, and total operating expenses climbed 30.9% year over year to 3.003 trillion pesos from 2.293 trillion pesos.

Reported net income declined 29.2% from the prior-year period to 69.96 billion pesos, or 156.30 pesos per share, from 98.76 billion pesos, or 220.65 pesos per share.

As of May 28, US$1 was equivalent to 2,542.98 Colombian pesos.