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Article Excerpt
Supermercados Unimarc S.A. (until April 30, 2003, listed on NYSE under symbol UNR), a leading Chilean retailer, today announced results for the first quarter 2004. Figures are expressed in Chilean pesos at March 31, 2004, and are reported in accordance with Chilean Generally Accepted Accounting Principles (GAAP). At March 31, 2004, the exchange rate was Ch$ 616.41 = US$1.
Supermercados Unimarc reported net sales of Ch$28,543 million during the first quarter 2004, a 6.7% decrease compared to Ch$30,583 million reported during the first quarter 2003.
Net sales decreased during the first quarter 2004 mainly due to greater competition and a decrease in consumer spending.
Gross profit during the first quarter 2004 was Ch$6,463 million, a 6.4% decrease compared to Ch$6,905 million in the same period...
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