Context: How Bolsa de Santiago works, and what it makes issuers disclose · Chile on the LatAm Power Map
| Full name | Falabella S.A. (S.A.C.I. Falabella) |
| Ticker / exchange | FALABELLA / Santiago Stock Exchange |
| Headquarters | Av. Presidente Riesco 5685, Santiago, Chile |
| Sector | Consumer cyclical — department stores & retail |
| Employees | 76,480 |
| Market value | CLP 14.80 trillion (US$16.33bn) |
| Yearly sales (revenue) | CLP 13.56tn (US$14.96bn), trailing 12 months |
| Net profit (2025) | CLP 1.35tn (US$1.49bn) |
| Net margin | 10.25% |
| Return on equity | 21.56% |
| Price-to-earnings | 10.6 |
| Dividend yield | 0% (none recorded in the data) |
| Website | falabella.com |
What it is
Falabella is not one shop but a whole shopping ecosystem. It runs department stores, the Sodimac home-improvement chain, Tottus supermarkets, the Mallplaza shopping-centre network, and its own bank and credit card.
It operates across seven countries — Chile, Peru, Colombia, Brazil, Mexico, Uruguay, and Argentina. The idea is simple: own the store, the mall it sits in, and the credit the customer uses to pay.
Who owns it
This is a family business at heart. A formal shareholders’ pact binds the controlling Solari, Cúneo and Del Río families and related entities.
Together insiders hold about 46% of the shares (per the data), enough to control the company firmly.
The founding families still sit at the centre. Salvatore’s great-granddaughter Teresa Matilde Solari Falabella and her children Luisa Solari Falabella and Juan Cúneo Solari own stakes, with Juan serving as the company’s Vice Chair.
About 29% is held by big institutions such as pension funds and BlackRock (per the data), and the rest trades freely on the market.
Who runs it
Alejandro González Dale has been chief executive since April 2024; previously he served as the company’s chief financial officer for more than 17 years. A finance veteran now sits in the top seat.
The chairman is Enrique Ostale Cambiaso, who has held the role since 2023. The current chief financial officer is Juan Pablo Harrison, who took the job in 2024.
The money, in plain words
The story here is a sharp recovery. Net profit jumped from CLP 60.6bn (US$67m) in 2023 to CLP 480.9bn (US$531m) in 2024 to CLP 1.35tn (US$1.49bn) in 2025 — more than twenty times higher in two years (our calculation).
Sales grew more gently, up about 9.6% in 2025 to CLP 13.30tn / US$14.68bn (our calculation). So the gain came from running the business better, not just selling more.
The company keeps about 10 cents of profit from every peso of sales — a net margin of 10.25%. For every peso owners put in, it earns about 22 back a year — a return on equity of 21.56%, strong for a retailer.
The shares look modestly priced: you pay about 11 pesos for each peso of yearly profit — a price-to-earnings ratio of 10.6. It holds CLP 2.32tn (US$2.56bn) in cash on the balance sheet (per the data).
What it is doing now
The recovery is being rewarded. A rating agency upgraded the company from BB+ to BBB-, moving it back to investment grade, with a second agency doing the same.
In plain terms: lenders again see it as safe.
The latest quarter kept the momentum. In the first quarter of 2026 Falabella reported net income of US$253 million, a 22% rise on the year before, driven by stronger operating profitability.
For 2026 it plans to invest US$900 million, 40% more than last year, with 17 new store openings.
What to watch
The big question is whether the rebound holds when shoppers tighten their belts. Much of its sales come from non-essential goods, home-improvement outlets and consumer credit — areas that suffer first when demand weakens.
Also watch the bank and online side. Online sales now make up about 40% of the total, and its digital bank’s loan book grew 18% in 2025 — a fast-growing engine, but one that adds credit risk if the economy slows.
Sources
This is news, not investment advice.
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