Brazilian retailer Companhia Brasileira de Distribuicao (CBD) has posted a 6.8% jump in gross sales revenue, which rose to BRL3.53bn (US$1.81bn) in the 1st quarter of 2007.
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Brazil’s number one grocer, which is jointly owned by the founding Diniz family and France’s Casino Guichard-Perrachon, saw a reversal of the downward trend in food sales noted throughout 2006. In a filing with the US SEC, the company said today (17 May) that food sales were up 4.5% across its Pão de Açúcar, CompreBem, and Sendas supermarket chains.
Gross margins were 27.8% in the period, “reflecting the continuity of the competitiveness strategy and the more promotional period on account of Easter,” the retailer said.
EBITDA totalled BRL2.34bn in the period, with a margin of 6.6%.
During the first quarter, the company launched a new sales campaign: ‘varejo na alma’ (‘retail in the soul’). This initiative, CBD said, aims to leverage sales and increase profitability. “The initiative has already started to present results in the first quarter of 2007, helping the company to record growth of 4.8% in the ‘same stores´ concept,” CBD concluded.
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