Brazil retailer GPA working hard to repeat profitability of 2014 -CEO

viernes 8 de mayo de 2015 11:38 GYT
 

SAO PAULO May 8 (Reuters) - Brazil's biggest retailer, GPA SA, is fighting headwinds this year in an effort to deliver profit margins similar to those of 2014, Chief Executive Ronaldo Iabrudi said on an earnings call on Friday.

"We are making every effort to match the profitability of last year. But 2015 will be tougher," Iabrudi told analysts.

GPA shares fell 3 percent in Sao Paulo after the company reported late on Thursday that first-quarter profit fell from a year ago due to weak demand and rising administrative costs. (Reporting by Brad Haynes and Luciana Bruno; Editing by Chizu Nomiyama)