Brazilian retailer Grupo Pão de Açúcar (GPA) has reported an 8.1% growth in net sales in its third quarter, to BRL 10.9 billion (€2.92 billion).
Like-for-like sales were up by 3.3% on the same quarter in 2016, while the overall results were boosted by the performance of the Assaí Atacarejo banner.
Net sales from the Assaí segment rose by 25.2%, to BRL 4.68 billion (€1.25 billion), supported by a strong performance by the retailer's new stores, while like-for-like sales grew by 7.7%.
The banner posted its strongest combined growth in sales volume and customer traffic in recent quarters, despite the effects from deflation on food products, and thanks to the development of new categories, according to the retailer.
Retail Trends
Elsewhere, the Multivarejo banner saw a 2.1% drop in revenues, to BRL 6.2 billion (€1.66 billion), although like-for-like sales were up by 0.6%.
The banner has seen continuous gains in market share for over 12 consecutive periods, as well as improvements in sales volume and customer traffic during the quarter.
Meanwhile, Extra Hiper continued to deliver a strong performance, with an increase in volume, while customer traffic remained at Q2 levels.
Additionally, GPA's 'My Discount' programme, which was launched in May, has registered three million app downloads so far, creating another growth channel for the retailer.
© 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.
