La Polar increases its gross profit by more than 400%

Posted on

Sep 8 2021

The Chilean retailer La Polar has shot up its financial indicators in the second quarter of the year and reveals that its gross profit closed the period with an increase of 465.1% compared to the same quarter of 2020, this thanks to better sales margins in the retail segment and a double-digit increase in revenue, among other factors.

La Polar increases its gross profit by more than 400% – Q13

On the foregoing, the company’s consolidated revenues increased 80.2% compared to the second quarter of the previous year and 36.3% in the accumulated six-month period. According to La Polar, this rise is explained by the greater liquidity in the market, the reopening of stores and a solid growth in its e-commerce channel.

Specifically, revenue from the retail segment reached an acceleration of 154.3% in the second quarter, “which is explained by the reopening of an important part of our stores and by the stimuli at the country level to reactivate the economy, taking into account in addition, in the same period of 2020 we kept a large part of our stores closed “, explains the retailer.

For its part, La Polar’s digital performance maintains the trend observed in the sector with significant increases compared to 2020. Specifically, sales of the company’s e-commerce channel grew 149.4% during the second quarter of 2021 compared to the same period of the previous year, reached a 42.2% share of total sales.

It is worth mentioning that as of the closing date of the second quarter, La Polar has had to close the locations that are in quarantine areas in Chilean territory. The company emphasizes that it has established all health and safety protocols in locations that can continue to operate nationwide.

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