CBD targets 2013 growth

CBD targets 2013 growth

Brazilian retail giant CBD plans to open 500 new stores in 2013.

Speaking during an interview published by the company, CBD president and chief executive Eneas Pestana revealed that CBD - also known as Grupo Pao de Acucar - would create around 30,000 jobs through the move.

Pestana said the new store openings would bring CBD's retail formats to areas where Brazil's largest retailer is "not present".

In 2013, Pestana indicated that "the emphasis" will be placed on "accelerating" store openings under its Assaí and Extra Mini Market formats. He added that CBD expects to deliver organic growth in all formats.