Brazilian retailer GPA has reported a 12.4% growth in sales to R$13.8 billion (€3.1 billion) in the first quarter of 2019.
On a like-for-like basis, GPA's quarterly gross revenue rose 7.5% year on year, disregarding calendar effects.
Growth Drivers
The positive performance was driven by its wholesale banner, Assaí cash and carry, registering a 25.6% growth (+10.7% LFL) to R$6.91 billion (€1.5 billion).
The retailer's new organic expansion plan foresees 20 new store openings per year.
The opening of the Assaí Sezefredo Fagundes store in São Paulo, converted from a hypermarket, brought the banner’s total number of stores to 145.
Other Segments
In the multi-varejo (retail) segment, which includes the Extra and Pão de Açúcar banners in different stores formats, sales increased 1.8% (+4.8% LFL) to R$ 6.92 billion (€1.5 billion)
Pão de Açúcar has already renovated 26 stores, out of which 20 are a part of the G7 concept. The retailer plans to renovate another 10-15 outlets during the course of the year.
© 2019 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.
