Brazil's GPA says to be more selective with investments
SAO PAULO Dec 9 (Reuters) - GPA SA , Brazil's biggest retailer, will be more selective with investments and protective of cash in 2016, it said in a Wednesday presentation.
With Brazil's economy suffering its worst recession in 25 years and consumer prices climbing nearly 10 percent in a year, GPA has struggled to maintain supermarket sales, while demand has plunged at its home appliance division Via Varejo SA . (Reporting by Brad Haynes; Writing by Caroline Stauffer; Editing by Jeffrey Benkoe)
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