CBD Reports Bumper Sales

Brazil's largest grocery retailer, Companhia Brasileira de Distribuição (CBD), has reported sales of BRL23.23bn for 2009, a rise of 28.8% on 2008. In Q409, the firm's pattern of sales continued along the path set earlier in the year, with sales at stores that have been open for at least 12 months rising by 9.6% in nominal terms and by 4.1% after adjusting for the IPCA consumer price inflation index (against a target of 2.5%). On a nominal basis, like-for-like sales of food products grew by 8.3% and sales of non-food products increased by

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