GPA Sees 12.4% Growth In Third Quarter Net Sales
Brazilian retailer GPA has reported a 12.4% annual growth in net food sales during the third quarter of 2018, to R$ 12.28 billion (€2.85 billion).
The result was driven by strong performance of wholesale banner Assaí, which saw a 25.2% growth in net sales to R$ 5.86 billion (€1.36 billion), while same-store sales increased by 7%.
Four stores were inaugurated in the quarter (one conversion from Extra Hiper), which means the business has opened 19 stores in the last 12 months. Currently, 10 stores are under construction and one is being converted.
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