Cencosud profit slides as margins narrow
SANTIAGO Nov 28 (Reuters) - Chilean retailer Cencosud reported a 33 percent drop in profits in the third quarter on Friday, impacted by a weaker peso and as cost cutting to lure reluctant shoppers in the midst of a downturn ate into margins.
Cencosud said net profit in the three months to end-September was 29.2 billion Chilean pesos ($49 million), compared to 43.8 billion a year ago and market expectations for 22.0 billion, according to a Reuters forecast. (Reporting by Rosalba O'Brien; Editing by Chizu Nomiyama)
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