Companhia Brasileira de Distribuicao says it intends to focus on organic growth in 2012 following 1.5% decline in Q3 earnings, to 133.5M reais
November 8, 2011
– After the third-quarter earnings for Companhia Brasileira de Distribuicao SA, Brazil’s largest supermarket chain, fell to by 1.5% to 133.5 million reais (US$76.8 million) when compared with the same quarter last year, executives at CBD have indicated that the company will focus on organic growth during 2012, according to Fox Business on Nov. 4.
As reported by Fox Business, during much of the past year, CBD has been working to integrate its recent acquisitions into the company. CBD faced a 62.1 million reais charge resulting from its attempts to incorporate Globex Utilidades S.A., a group of household retailers that includes Ponto Frio, Ltda and Casas Bahia, Ltda.
The primary source for this article is Fox Business, New York, on Nov. 4, 2011