Brazilian retailer Grupo Pão de Açúcar (GPA) posted slightly higher sales growth in the first quarter than rival Carrefour Brasil, despite the negative impact of food deflation in the market.
Total gross revenue at GPA was up 7.6% in the first quarter of 2018, to R$12.3 billion (€2.93 billion), while Carrefour Brasil posted 6% growth in the same period.
The difference between the two operators is more pronounced in the atacarejo (cash-and-carry wholesale) store format, where GPA’s Assaí banner saw 10.7% sales growth, compared to 1.4% for Carrefour's Atacadão.
