One of the region's biggest department store groups reported Q1 revenues of $457 billion Chilean pesos ($548 million), an increase of 21.7 percent year-on-year.

The São Paulo-based firm reported net revenue of 8.7 billion reais ($1.7 billion) in the first quarter of 2022, up 6.2 percent year-on-year.

The latest results were down to a more buoyant mood among the country's more affluent “A and B class” consumer demographics among other factors.

Caravana Americana presented Latin American brands to international and domestic buyers in Mexico City over the weekend shortly after Mercedes-Benz Fashion Week Mexico kicked off its sales period.

The Latin American e-commerce giant announced a 17 billion reais ($3.44 billion) investment to expand and consolidate its Brazilian business in 2022. The sum represents around a 70 percent increase from last year’s investments.

Brazilian retailer Magazine Luiza SA reported net revenue of 9.4 billion reais ($1.87 billion) in its fourth quarter, down 6.6 percent year-on-year.

The Brazilian mall conglomerate acquired 23.08 percent of Brazil’s largest e-commerce platform for second-hand luxury goods for 27 million Brazilian reais ($5.3 million).

As consumption bounced back last year, the retailer reported net income of $772 million for the year, compared to only $30.7 million in a pandemic-hit 2020.