"Cencosud are a leading multi-brand retailer in South America, based on revenues, selling space, number of stores and gross leasable area in the sectors and countries in which we operate. See “Business—Our Business” and “Industry Overview and Competition” for more explanation on the methodology we use to calculate our market position in such sectors and countries. We operate through a number of formats, including supermarkets, home improvement stores, shopping centers and department stores. We are headquartered in Chile and have operations in Chile, Argentina, Brazil, Colombia and Peru. Our business consists of six segments, including four retail segments, which allows us to reach a wide range of customers offering various combinations of products, price, quality and service. We seek to increase operations through organic growth and acquisitions in Brazil and Peru, which the Company believes are high growth and underpenetrated markets due to their favorable demographics, sustainable household consumption growth, low formal retail penetration, and strong macroeconomic environments, as described in “Business—Our Business” and “Industry Overview and Competition.” As a complement to our core retailing business, we are actively involved across the region in the commercial real estate development business, particularly in Chile, Argentina and Peru, with 25 shopping malls representing 566,442 square meters of gross leasable area as of March 31, 2012, and we also offer private label credit cards, consumer loans and limited financial services to our retail customers.
For the year ended December 31, 2011, we had 826 stores and shopping centers with an aggregate of 3,131,729 square meters selling space and had assets of Ch$7,656,561 million, liabilities of Ch$4,686,927 million, net earnings attributable to controlling shareholders of Ch$285,915 million, and shareholders’ equity of Ch$2,874,438 million. "