Brazil's CBD Posts Jan-Apr Food Sales Growth Of 8.6%
12 Mayo 2009 - 9:00AM
Noticias Dow Jones
Brazilian supermarket chain Companhia Brasileira de Distribuicao
(CBD), or CBD, said Tuesday that same-store sales in the first four
months of the year rose 8.6% for food products and 11.1% for
non-food products.
In the first four months, net sales stood at 6.40 billion reals
($3.14 billion), up 13.9% on the year before, the company said in
its first quarter earnings statement.
CBD said the growth was due to a successful commercial strategy,
which included aggressive promotions.
CBD is jointly controlled by the Diniz family of Sao Paulo, the
chain's founders, and by French retail company Casino Guichard
Perrachon SA (CO.FR). Its main competitors in Brazil include U.S.
retail giant Wal-Mart Stores Inc. (WMT) and France's Carrefour SA
(CA.FR).
-By Alastair Stewart, Dow Jones Newswires; 5511-2847-4520;
alastair.stewart@dowjones.com