Brazil retailer GPA aims for stable gross profit margins
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)
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