Brazilian Retailer GPA's Food Division Sees Revenue Up 12% In Q4
Net sales revenue at Brazilian retailer GPA SA's food division rose 12% year-on-year in the fourth quarter to R$14 billion (€3.3 billion), according to a securities filing on Friday.
Same-store net sales, a measure of sales at stores open for at least 12 months, grew 6.9% in the quarter, from the year ago period, the company said.
'The multi-channel, multi-format and multi-region portfolio and the digital transformation and omnichannel initiatives, supported sales performance above the industry average and enable the group to meet its guidance for the year,' it said in a statement.
In December of last year, the retailer announced an investment of R$ 1.8 billion (€403.3 million) fro building its store portfolio.
The retailer GPA reported a 12.4% annual growth in net food sales during the third quarter of 2018.