Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Assaí Sees Fourth-Quarter Profit Up By 76%, Opens 21 New Stores

Brazilian cash-and-carry banner Assaí Atacadista recorded a net profit of R$527 million (€90.5 million) in the fourth quarter of 2021 – up by 76%, year on year.

Net revenue in the quarter increased by 8.1%, to R$11.55 billion (€2 billion), while same-store sales fell by 3.1% in the period, impacted by strong comparative factors (+19.4% in Q4 2020).

For full-year 2021, net revenue reached R$41.9 billion (+16.5%), while net profit amounted to R$1.61 billion (+60.5%), the company noted.

The total sales area reached 964,000 square meters at the end of December (+19%), with 212 stores in operation.

During the year, 28 new stores were opened, of which 21 opened in the last quarter – twice the opening rate of the corresponding period in 2020.

The 23 former Extra hypermarkets converted into Assaí stores put in a strong performance, the company noted, with average sales growing by around three times after conversion.

Expansion Strategy

The expansion plan for 2022 foresees the opening of approximately 50 stores, including ten organic stores that are scheduled to open in the first half under construction.

The first wave of Extra Hiper conversions (approximately 40 stores) will be under construction by the end of Q1 2022 and scheduled to open in H2 2022.

The advancement of the organic expansion plan and conversions of Extra Hiper stores will grow, reaching more than 300 stores and revenue of R$100 billion in 2024.

Rappi Delivery Platform

Assaí Atacadista, controlled by French retail group Casino, recently announced a partnership to sell its products through the Rappi delivery application.

A pilot was launched this month in six shops in São Paulo.

The move is part of a digitalisation process initiated in 2021, after a separation from GPA, with priority given to third-party delivery platforms.

© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days