Grupo Falabella lifts third-quarter net income 18% to US$196 million

Grupo Falabella said third-quarter 2026 net income rose 18% year over year to US$196 million, while revenue and EBITDA also increased. The Chile-based retailer and financial services group pointed to stronger omnichannel sales, digital growth and recent expansion moves across its ecosystem.

Why it matters: - Grupo Falabella's results show its integrated retail, banking and mall model is still generating growth despite a challenging consumer backdrop in the region. - The quarter also adds evidence that the group is improving profitability while expanding its customer base and digital engagement. - Fitch Ratings' upgrade in October signals that the company's stronger operating performance is also being recognized by credit markets.

What happened: - Grupo Falabella reported third-quarter 2026 net income of US$196 million, up 18% from the same period in 2025. - Consolidated revenue reached US$3,521 million, a 10% increase year over year. - EBITDA rose 12% to US$478 million, and the EBITDA margin expanded to 13.6% from 13.2% a year earlier. - Year-to-date net income through the first nine months of 2026 totaled US$667 million, also up 18% year over year. - CEO Alejandro González Dale said the company maintained momentum, improved profitability and reached 39 million customers.

The details: - Grupo Falabella said the quarter reflected progress in its strategy to deepen synergies across its businesses and strengthen its customer value proposition. - The group said it continued to invest in technology, digital capabilities and logistics to improve the shopping experience and broaden its commercial offering. - Customer count reached 39 million at quarter-end. - Customers interacted with Falabella's businesses 58 times on average over the last 12 months. - Nearly 50% of customers engaged with two or more businesses in the ecosystem. - Banco Falabella grew its loan portfolio 17% year over year. - Purchases made with Banco Falabella payment methods reached US$7,500 million, up 14.2%. - Banco Falabella ended the quarter with 8.8 million active customers across the region, up 6.5% year over year. - The bank opened 901,000 new accounts and credit cards, up 14% year over year. - The group's three retailers posted combined revenue growth of 7.5% year over year. - Falabella Retail revenue grew 9.3%, supported by its omnichannel proposition, private-label and exclusive brands, and a 17% increase in GMV in its digital channel. - Tottus revenue rose 9.2%, helped by growth in perishable categories and a larger online share. - Sodimac revenue increased 4.5%, or 14.3% including operations in Colombia and Mexico that are not consolidated in Grupo Falabella's financial statements. - E-commerce GMV grew 16% year over year, driven by a 29% increase in sales from third-party merchants. - Grupo Falabella said faster delivery, a broader assortment and new commercial capabilities such as Retail Media supported the digital business. - Mallplaza posted 8.7% EBITDA growth and a record EBITDA margin of 83%. - In October, Fitch Ratings upgraded Grupo Falabella's international credit rating to BBB and its local rating to AA, both with a stable outlook. - Grupo Falabella launched Fpuntos, the evolution of its CMR Puntos loyalty program, for its 12 million customers in Chile. - In the first month of Fpuntos, Elite cardholders who shopped at more than one business increased 32% year over year. - The group reached an agreement with Mallplaza that makes Mallplaza the sole shopping center operator and developer for Grupo Falabella. - Mallplaza acquired eight shopping centers in Colombia for about US$353 million at the exchange rate on the closing date. - The Colombia deal expands Mallplaza into five new cities, lifts its GLA to 460,000 square meters and gives it 13 shopping centers in the country. - Mallplaza said the acquisition makes it the market leader by EBITDA in Colombia. - Sodimac Colombia acquired Sumatec, an industrial supplies chain in that country. - A full earnings release is available from Grupo Falabella.

Between the lines: - The results suggest Grupo Falabella is leaning on ecosystem integration, not just individual business-unit growth, to drive higher customer frequency and spending. - The mix of retail, banking, loyalty and mall assets gives the company multiple ways to monetize the same customer base. - The acquisitions and operating changes point to a broader push to consolidate scale in key markets, especially Colombia.

What's next: - Grupo Falabella said it will keep deepening connections between its businesses and pursue new growth opportunities. - The company is likely to keep emphasizing digital sales, logistics improvements and cross-business customer engagement. - Mallplaza's Colombia expansion and Sodimac Colombia's acquisition of Sumatec should contribute to future operating results as those deals are integrated. - Continued execution will determine whether the company can sustain margin expansion and customer growth into the next quarter.