Brazilian April Supermarket Sales Rise 16.9% On Year - Abras
28 Maio 2009 - 1:23PM
Dow Jones News
Brazilian supermarket sales rose sharply in April with the
Easter holiday boosting demand, the Brazilian Supermarkets
Association, or Abras, said Thursday.
March sales were 16.9% higher, in real terms, compared with the
same month one year ago, Abras said.
April figures show the industry is performing well, despite the
wider economic problems, Abras said in a statement.
The retail sector has proven remarkably resilient to the wider
slowdown in the Brazilian economy over the last nine months,
reflecting an increase in the spending power of the average
Brazilian amid rising salaries and falling interest rates.
Figures in real terms take into account inflation as measured by
the government's official consumer price index, or IPCA. In April,
the IPCA gained 0.48%, taking 12-month inflation to 5.53%.
Sales figures rose 6.6% against March. Easter is a big event for
supermarkets and it fell in April in 2009, while in 2008 it fell in
March.
Brazil's largest grocers are Cia. Brasiliera de Distribuicao
(CBD), or CBD; France's Carrefour SA (CA.FR); and U.S. retailer
Wal-Mart Stores Inc. (WMT). French retailer Casino
Guichard-Perrachon SA (CO.FR) owns a 34.3% stake in CBD.
-By Alastair Stewart, Dow Jones Newswires; 5511 2847-4520;
alastair.stewart@dowjones.com