São Paulo, October 29th, 2015 – GPA [BM&FBOVESPA: PCAR4; and NYSE: CBD] releases its third quarter (3Q15) of 2015 earnings results.


Net sales totaled R$16.1 billion, highlight to Food segment growth of 7.3% in the quarter, outperforming the industry
Steady pace of investments, which totaled R$510 million with 23 stores opened in the quarter and 210 in the last 12 months
Strong financial structure with low leverage level, working capital gains, free cash flow and improved cash management

Food Business (Multivarejo + Assaí)

Emphasis on store renovation program, specially of Extra: improvements in customer traffic and better sales performance of around 1,000 basis points
Gains in market share by Pão de Açúcar, Assaí and Proximity format
Adjusted EBITDA margin of Multivarejo around 7.0% demonstrates its resilience despite the worsening of consumption sector indicators during the year
Adjusted EBITDA of Assaí up 44.1% and margin increasing 60 basis points to reach 4.0% in the quarter

Via Varejo

Continuation of measures to improve efficiency and optimize costs
Intensification of commercial initiatives to drive sales growth and gain market share
Acceleration of Click & Collect and rollout of “Crescer Mais” Project


Solid growth (GMV +17.6%) despite challenging macro environment in Brazil with strategic initiatives on track and increased focus and discipline in cost efficiency

Click on the links below in order to access:

3Q15 Earnings Release

October 30th, 2015
10:30 a.m. (Brasília time) | 8:30 a.m. (NY) | 12:30 p.m. (London)
Conference in English (simultaneous translation)
+1 (646) 843-6054
Webcast: click here.
Conference in Portuguese (original language)
+55 (11) 2188-0155
Webcast: click here.

Replay: +55 (11) 2188-0400
Access code for audio in English: GPA
Access code for audio in Portuguese: GPA
The conference call will also be available in audio format on http://www.gpari.com.br/.

Please dial in five minutes prior to the scheduled conference call time.