Brazil's GPA gross sales jump 24% in fourth-quarter after incorporating Colombian ops [Reuters]
CASINO GHRD PRCN S/ADR (CGUSY)
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Source: Reuters
Brazil's GPA gross sales jump 24% in fourth-quarter after incorporating Colombian ops SAO PAULO (Reuters) - Brazilian supermarket chain GPA SA ( PCAR4.SA ) on Wednesday reported a 24% rise in fourth-quarter gross sales after completing a reorganization that allowed it to book revenue from Colombia’s Almacenes Exito SA IMI.CN. The group reported gross sales of 18.9 billion reais ($4.56 billion) after including Exito’s results. GPA successfully concluded a tender offer to acquire 96.57% of Exito shares on November 27 as part of broader efforts by parent company Casino Guichard Perrachon SA ( CASP.PA ) to simplify its shareholding structure in Latin America. “In the fourth quarter, only one month of [Exito’s] operation was factored in, with a contribution of 2.4 billion reais in gross sales, confirming a positive trend seen in recent quarters,” GPA said in a securities filing. In Brazil alone, the retailer posted fourth-quarter gross sales of 16.515 billion reais, up 8.4% year on yea
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