CBD Buoyed By Strong Same-Store Sales Growth

Brazil's largest grocery retailer, Companhia Brasileira de Distribuição (CBD), has reported net sales of BRL5,143mn for the fourth quarter of 2008, representing a year-on-year (y-o-y) increase of 18.8%. Same-store gross sales, which measures revenue from outlets open at least a year, climbed by 10.4% in nominal terms in the quarter. CBD described this as 'the best quarterly performance of the last three years' - an admiral result in the face of a worsening economic environment. It suggests that so far the company has not yet been hit by the downturn in consumer sentiment which has accompanied the global financial

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