Brazilian retailer Companhia Brasileira de Distribuicao has posted a 9.3% rise in third-quarter net sales to BRL2.52bn (US$889m).
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CBD, which is Brazil’s largest retailer and is often known by its flagship supermarket chain Pao de Acucar, said gross sales were up 9.7% to BRL2.99bn for the third quarter. Net same-store sales rose 5.1%.
The company registered this sales growth despite the sluggish performance of Brazil’s economy.
CBD operates around 500 stores, including Pao de Acucar and Se supermarkets, and Extra hypermarkets. The company said its hypermarket division had the best performance in the quarter, reported Reuters.
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By GlobalData
