GPA revenue Advances 9% in Q2

The Grupo Pão de Açúcar (GPA) announced the 9% growth in net revenues for the second quarter, compared with the same period of 2016-R $10.66 billion. In relation to the multivarejo (Extra and Pão de Açúcar) sales recorded a decrease of 1.5% from April to June, to $6.39 billion. The multivarejo increased same-stores of 1.2% in the second quarter. Sales in Extra flag Hyper grew 7.6% same stores, driven by non-food categories, such as smartphones. Assaí cash network carry high presented Assai & 29.2%-R $4.27 billion revenue in the quarter. In addition to the good performance of new stores, there was growth of same-stores accelerated to 13.5% in the second quarter, compared to 12.9% in the first three months of the year. January to June NET closed with R $8.3 billion-high of 29%. The format of cash & carry represented 40.1% of net revenues in the food Division of the GPA, as compared to 34.4% in the previous year.