Brazilian grocery retailer Companhia Brasileira de Distribuicao (CBD) has reported a rise in quarterly sales and said there were signs demand was beginning to increase.
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CBD, which is more commonly known by its flagship supermarket banner Pao de Acucar, reported net sales of BRL3.06bn (US$1.01bn) for the second quarter to the end of June, compared to BRL2.66bn in the year-ago period. The company’s same-store sales rose just 2.6%, reported Reuters.
CBD said same-store sales in nominal terms in June rose 5.2% from the same month of last year, which the company sees as a sign of a recovery in demand.
“In the company’s view, this increase could indicate the beginning of a gradual recovery in consumption in the country,” CBD was quoted by Reuters as saying.
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