BRAZIL: CBD posts rise in Q2 sales
Brazil's largest supermarket chain Companhia Brasileira de Distribuicao (CBD), also known as Pao de Acucar, has reported a 10.7% rise in same-store net sales in nominal terms for the second quarter.
The company said the improved sales were helped by higher consumer prices and rising food sales volumes, but were also hurt by high lending rates and falling sales in the non-food segment, reported Dow Jones International News.
CBD said total net sales rose 26.3% year-on-year to BRL2.66bn (US$928.5m) for the second quarter, while gross sales rose 26.6% to BRL3.15bn.
The retailer's same-store sales were up 5% in June in nominal terms compared to the year-ago period, a sharp drop from growth rates in April and May that was partly attributed to there being one less Saturday in June this year.
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