Santiago, March 24 - Chilean retail giant Cencosud said on Monday it was sticking to its investment plans for 2008 and coming years, despite global financial turbulence.
Cencosud, which is starting operations in Colombia this year and already operates in four countries in Latin America, said last month it planned $500 million in investments in 2008 and $3 billion over five years as it aimed at doubling sales.
"We have always invested in the good times and in the bad times," Cencosud Chairman Horst Paulmann told journalists on Monday.
"So we're going to continue with more of the same, not just in Chile, but in Peru, Colombia, Brazil and Argentina."
Santiago-based Cencosud runs supermarkets, department stores and other stores that sell housewares and construction materials. It also owns shopping and entertainment centers.