Retail

GPA Sees 10.4% Revenue Growth In Q2, Boosted by Assaí

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Brazilian retailer Grupo Pão de Açúcar (GPA) has reported a 10.4% like-for-like net revenue increase in the second quarter of the year, to R$ 11.8 billion (€2.6 billion).

The positive result was boosted by Assaí, the group’s 'atacarejo' (cash-and-carry wholesale) store format, whose net sales increased 23.5% to R$ 5.3 billion (€1.2 billion).

The retail segment, which includes the Pão de Açúcar supermarket and Extra hypermarket banners, also put in a good performance, with revenue increasing by 1.7%, to R$ 6.5 billion (€1.4 billion).

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