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Carrefour Brasil Reports 10% Growth In Q1 Gross Sales

Published on Apr 24 2019 3:00 PM in Retail tagged: Trending Posts / Carrefour Brasil / Atacadão / quarterly results / Carrefour Varejo

Carrefour Brasil Reports 10% Growth In Q1 Gross Sales

Gross sales at Carrefour Brasil, one of Brazil's largest food retailers, rose 9.9% in the first quarter of 2019 to R$14.2 billion ($3.62 billion) compared with the same period last year, as food inflation more than compensated for a less favourable calendar.

Easter weekend, which boosts sales significantly, took place in the second quarter of 2019, but was part of the first quarter of 2018, the company said in a Tuesday night securities filing ahead of its earnings release planned for 9 May.

Divisional Growth

The Brazil-listed unit of France's Carrefour SA recorded major growth at its wholesale unit known as Atacadão, which gained relevance amid the slow recovery of the Brazilian economy from recession.

The Atacadão division posted a quarterly gross revenue of R$9.5 billion, up 13.6% from the same period one year ago, helped by ongoing efforts to expand the business organically.

The retailer opened four of the 20 new stores expected for 2019 in the first quarter.

In the retail unit, which uses the brand name Carrefour Varejo, gross sales grew by only 0.2% to R$4.65 billion.

On a like-for-like basis, consolidated gross sales rose 6.6% in the first quarter.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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