Brazil February Supermarket Sales Rise 4.2% On Year - Abras
26 Março 2009 - 12:08PM
Dow Jones News
Brazilian supermarket sales rose in February as the industry
continued to resist the slowdown in the wider economy, the
Brazilian Supermarkets Association, or Abras, said Thursday.
February sales were 4.2% higher, in real terms, compared with
the same month one year ago, Abras said. Figures in real terms take
into account inflation as measured by the government's official
consumer price index, or IPCA.
"The result corroborates the thesis that the retail food sector
is one of the last to feel the effects of economic crisis. However,
the accumulated figure shows growth will not be as strong this year
as in 2008," said Sussumu Honda, the president of Abras.
Supermarket sales are 5.4% higher over the last twelve
months.
Brazil's economy slowed dramatically in the fourth quarter of
2008, contracting 3.6% compared with the third quarter and the
economy could shrink in 2009. However, demand for food products
remains strong.
In February, the IPCA gained 0.55%, taking 12-month inflation to
5.9%.
Brazil's largest grocers are Cia. Brasiliera de Distribuicao
(CBD), or CBD; France's Carrefour SA (12017.FR); and U.S. retailer
Wal-Mart Stores Inc. (WMT). French retailer Casino
Guichard-Perrachon SA (12558.FR) owns a 34.3% stake in CBD.
-By Alastair Stewart, Dow Jones Newswires; 5511 3145-1479;
alastair.stewart@dowjones.com