The country’s largest department store operator Falabella reported its second-quarter net profit up 13.7% to CLP108.7bn (£141.6m) on the back of robust domestic demand throughout South America.

Falabella’s regional expansion plans paid off as stores in Chile, Colombia and Peru also boosted the retailer’s bottom line.

Sales soared 13.3% year-on-year to CLP1.25trn (£1.6bn) while EBITDA increased 8.8% to CLP196.9bn (£256.5m).