C&A Pulls out of Argentina

Dutch fashion retailer C&A says it has closed its 20 stores in Argentina and is pulling out of the country, disappointed by its financial results there. “Despite all the investments we have made in these past 12 years we have not met our objectives and the company has decided that it shouldn’t continue expanding [in this market],” the company says. C&A earlier in June sold its financial unit in Brazil, known as IBI, to Banco Bradesco for BRL1.4bn, but a C&A spokeswoman says the retailer is not pulling out of Brazil. C&A will also retain its presence in Mexico, she says, adding that in both markets together the company has some 220 stores.