Cencosud’s second-quarter sales jumped 21% to CLP1.8trn (£2.3bn). Chief executive Daniel Rodriguez recently said sales could top $14bn (£8.6bn) this year.

During the period of global economic recovery in 2010, Cencosud invested $800m (£490m) in organic growth in the region and bought the Bretas supermarket chain in Brazil for an extra $800m. Cencosud expects to invest about $1bn (£600m) in South America this year. Net profit slipped 11% to CLP70.86bn (£92m).