Carrefour Brasil has reported a net profit of R$299 million (€79.3 million) in the second quarter of 2017, down by 3.4% on the same period last year.
However, net revenue grew by 7.9% year-on-year to R$12.29 billion (€3.26 billion), with capital expenditure of R$507 million (+20.5%), 42% of which was directed at opening new stores.
Like-for-like store sales rose 4.5%, excluding fuel sales and calendar adjustments. The company's Atacadão wholesale unit, which accounts for over 65% of gross revenue, saw an increase in like-for-like store sales of 4.9%, while like-for-like sales at retail unit Carrefour Varejo grew by 4.5%.
Continued Expansion
The retailer currently operates a total of 588 stores in Brazil, which is 65 more than in 2015. This includes 139 cash & carry stores, 23 Atacadão outlets, 102 hypermarkets, 40 supermarkets, 87 Carrefour Express convenience stores, 124 pharmacies, and 73 petrol stations.
The president of Carrefour Brasil, Charles Desmartis, said that the group will open its 100th Carrefour Express store during the third quarter of the year. He added that most of the new store openings in the rest of 2017 will be under the Atacadão and Express banners.
Carrefour Brasil also announced plans to launch a food e-commerce operation, initially in São Paulo, as well as a programme of personalised offers and discounts for customers.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
