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


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 (*)


– 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


– 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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