Brazilian grocery retailer Companhia Brasileira de Distribuicao is expected to report weak first quarter earnings due to higher taxes and lower same-store sales.

According to a Dow Jones Newswires poll, CBD is expected to post earnings before interest, tax, depreciation and amortisation of around BRL231m (US$79.1m), compared to BRL210m in the same quarter of last year. Net profit is expected at BRL30-50m, compared to BRL41m a year earlier.

CBD has already announced that same-store sales slid 0.4% for the first quarter compared to the year-ago period.