BRAZIL: CBD sees sales fall further during October
Brazilian retailing giant Companhia Brasileira de Distribuicao (CBD) has posted net sales of R$648.3m (US$255.7m) for October, 6.6% down year on year but an increase of 4.9% on sales in September 2001.
For CBD, which controls the Pao de Acucar, Barateiro, Extra and Eletro retail chains, this has meant that over the last ten months, sales have dropped 2.6%.
According to information delivered to the Sao Paulo Stock Exchange (Bovespa), the grocery chains Pao de Acucar and Barateiro saw sales fall 0.6% and 5% respectively during October. Barateiro underwent a reorganisation of its format during the beginning of this month, prompting sales to go up 0.1%.
In the field of electrical appliances, depressed sales have been widespread and this strongly affected both the Extra and Eletro chains. Revenues at these chains plummeted 8.8% and 25.6% respectively.
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