Falabella to Invest $2.58bn

Chilean retailer Falabella plans to invest $2.58bn in 2008-2011, including $1.65bn on expanding department stores in Argentina, Colombia, Chile and Peru. The investment plan aims to increase the number of Falabella department stores to 100 from 63, Sodimac home stores to 178 from 84 and Tottus supermarkets to 45 from 29. It does not account for the planned merger with supermarket chain Servicio D&S, awaiting regulatory approval, which would create South America’s largest retailer.