January 15, 2020 / 12:39 PM / 14 days ago

Brazil supermarket chain GPA's gross sales jump 24% in fourth quarter

SAO PAULO, Jan 15 (Reuters) - Brazilian supermarket chain GPA SA on Wednesday reported a 24% rise in total gross sales in the fourth-quarter from a year earlier, to 18.9 billion reais ($4.56 billion), including operations from Colombia’s Almacenes Exito SA.

In Brazil alone, the local subsidiary of France’s Casino Guichard Perrachon SA posted fourth-quarter gross sales of 16.515 billion reais, up 8.4% year-on-year, as double-digit revenue growth in wholesale unit Assai compensated for weaker performance in other segments. E-commerce sales grew over 40% in 2019 from 2018, the retailer said in a securities filing.

Late in 2019, GPA concluded a tender offer to acquire shares of Almacenes Exito, as part of broader efforts by parent company Casino to simplify its shareholding structure in Latin America.

$1 = 4.1477 reais Reporting by Gabriela Mello; Editing by Bernadette Baum

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