Brazil's biggest retailer sees World Cup boosting sales
SAO PAULO, April 30 (Reuters) - Brazil's biggest retailer, GPA , saw Easter sales in line with expectations this year and expects second-quarter sales to get a boost when the country hosts the World Cup in June and July, executives said on a Wednesday conference call to discuss earnings.
Year-on-year compression of gross profit margins should ease in coming quarters after a sharp drop since the group started a more aggressive pricing strategy in May of last year, executives added. Any further price cuts will be offset with more efficient operating expenses, according to Chief Financial Officer Christophe Hidalgo. (Reporting by Brad Haynes and Marcela Ayres)
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