Brazil retailer GPA posts first-quarter net loss

martes 10 de mayo de 2016 19:07 GYT
 

SAO PAULO May 10 (Reuters) - GPA SA, Brazil's biggest retailer, posted a first-quarter net loss of 59 million reais ($17 million) on Tuesday, down from a profit of 192 million reais a year earlier, according to a securities filing.

Earnings before interest, taxes, depreciation and amortization fell 56 percent to 417 million reais. The company said it would be "more selective in its organic expansion plan," concentrating its investments in its most profitable formats.

($1 = 3.47 Brazilian reais) (Reporting by Brad Haynes and Juliana Schincariol; Editing by Sandra Maler)