BRAZIL: Companhia Brasileira de Distribuicao sales up in Q3
Companhia Brasileira de Distribuicao (CBD) has reported a 6% growth in net sales for its third quarter, local press has reported.
The Brazilian retailer, known for its flagship chain Pao de Acucar, said that net sales reached 3.469 billion reais (US$1.908 bln) in the period. Gross sales were up 5.5% to 4.132bn.
Gross and net sales in same-stores increased by 1.8% and 2.3% in the period, respectively.
In the month of September alone, the company said that food products sales grew by 2.1%, which offset a fall in non-food products sales of 1.1% over the same month in 2006.
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