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.
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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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By GlobalData
