CBD, Brazil’s largest retailer, has booked an 18% rise in quarterly same-store sales as the company continued to file strong top-line results.
The company, also known through its trading name of Grupo Pao de Acucar, said net sales rose 18.1% on a same-store basis during the three months to the end of March.
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Net turnover, including the impact of the Ponto Frio business acquired last year, jumped 50.2% to BRL6.97bn (US$3.96bn).
“The group’s best-performing formats were Extra Hipermercados, Extra Supermercados, Extra Eletro and Assaí, whose sales growth was higher than the company average,” CBD said.
Meanwhile, CBD said it would “review” its planned venture with local non-food retailer Bahia.
CBD, which struck a deal in December to form a venture with Bahia, said the proposed deal remained “valid and perfectly effective” but said it would hold talks to work on how the plans are implemented.
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