Brazil retailer GPA aims for stable gross profit margins

viernes 31 de octubre de 2014 09:55 GYT

SAO PAULO Oct 31 (Reuters) - GPA SA , Brazil's biggest retailer, aims to maintain its current gross profit margin, executives told analysts on Friday, suggesting the company had ended a cycle of cutting prices to boost sales during an economic downturn.

GPA's gross margin slipped to 25.7 percent in the third quarter from 26.2 percent a year earlier, the company said in a quarterly earnings report on Thursday.

The company is controlled by France's Casino Guichard Perrachon & Cie. (Reporting by Brad Haynes and Aluisio Alves; Editing by Lisa Von Ahn)