SALES PERFORMANCE 1Q17

São Paulo, Brazil, April 13, 2017 – GPA [BM&FBOVESPA: PCAR4; NYSE: CBD] announce it sales performance in the first quarter of 2017.

GPA FOOD

Net revenue adjusted for calendar effects ⁽¹⁾ grew 9.5% vs. 1Q16, confirming the recovery at Extra Hiper and consistent growth at Assaí. Both formats outperformed the market ⁽*⁾

Multivarejo

– Volume recovery, with notable positive growth of around 2% at Extra, and improved customer traffic trend of 410 bps at Multivarejo vs. 1Q16

– Same-store sales growth of 2.0%⁽¹⁾, impacted by lower food inflation in the period (down from 13.1% in 1Q16 to 5.2% in 1Q17)

– Extra Hiper presented same-store sales growth above 4Q16, reaching 5.4%, while recovering market share. This performance reflects the accuracy of its commercial strategies, without additional pressure on gross margin

Assaí

– Net revenue grew 28.8%, sustaining a strong performance in the quarter. Same-store growth reached 12.9%⁽¹⁾⁽²⁾, driven by the continuous double-digit growth in customer traffic but impacted by lower food inflation (from 13.1% in 1Q16 to 5.2% in 1Q17)

– Significant growth of the two converted stores: sales grew over 2.5 times. Five more stores are already in the process of conversion

^(*) Food Segment: performance above the market in relation to ABRAS (Brazilian Supermarket Association) and PMC (Monthly Retail Survey by IBGE). Extra Hiper and Assaí: growth above the market according to Nielsen data. 

⁽¹⁾ Adjusted for calendar effects related to: February (1 day less) and March (Easter effect). The adjustment was 280 bps for GPA Food, which approximately 380 bps in Multivarejo and 50 bps in Assaí.

⁽²⁾ Includes sales of two stores already converted from Extra Hiper to Assaí, which contributed by 60 bps to Food and 190 bps to Assaí.

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