Lojas Americanas must accelerate investments in 2019, plans 224 new stores, says CFO

(Reuters)-The retailer stores American should accelerate the investments in the coming quarters to fulfill a previously announced expansion plan of doubling the number of stores between 2015 and 2019, said the CFO and investor Relations, Carlos Padilha, this Friday. "To reach the goal of 800 new stores between 2015 and 2019 we have to open 224 this year," Padilha said in an interview with Reuters, adding that at least 40 of the openings will be in the form of convenience. On May 2, Reuters reported that Lojas Americanas was among five groups that delivered proposals to operate convenience stores at petrol stations of BR Distribuidora, the largest fuel distributor in Brazil. Padilha said the 40 new convenience stores planned for 2019 will be fully operated by Lojas Americanas, but the retailer currently studies a franchising model for this format. "We have a team fully dedicated to this and the study is in advanced stage," he added. In the first quarter, the company invested 207.7 million reais, mainly in reforms and 15 stores inaugurations. Lojas Americanas has a total of 1,501 units in 603 cities throughout Brazil, but its operations are not limited to physical stores. The retailer has a 62% stake in B2W Companhia Digital, Brazil's largest e-commerce company in revenue, which operates under the submarine, Americanas.com, Sou Barato and Shoptime brands. Padilha also commented that Lojas Americanas, which had net loss of 53.5 million reais in the first quarter due to a less favorable timetable, expects stronger results in the second quarter. "Easter is the third most important event of our calendar and this year has fallen in the second quarter," he explained. BTG Pactual analysts said in a report on Friday that future prospects for Lojas Americanas are promising, especially in the second quarter, but the market should take a while to incorporate this into the stock price. At 10:27, Lojas Americanas ' shares were traded in a fall of 2,48%, 15.36 reais, among the biggest falls of the Ibovespa, which Cedia 0,19%.