Grupo Pao de Acucar's Q4 earnings jumped 43% versus a year ago, to 361M reais, as revenue grew 20% to 13.4B reais; cost-cutting, shifting customers to more-profitable items lifted results
February 17, 2012
– Brazilian retailer Grupo Pao de Acucar reported a 43% increase in fourth-quarter earnings from a year ago to 361 million reais (US$209 million), Reuters reported Feb. 17.
The results exceeded analysts' expectations of 313 million reais in earnings.
Revenue rose 20% to 13.4 billion reais.
The company's size and its cost-cutting measures helped lift profits, Reuters reported. It has negotiated better prices with suppliers, helping its costs grow more slowly than sales.
At its supermarkets, the company has shifted customers to more profitable products.
The primary source of this article is Reuters, London, England, on Feb. 17, 2012.