Brazil's Pão de Açúcar says it expects its sales to grow more than 50% by 2015, reach 87.5B reais; company planning to open 120 convenience stores per year

LOS ANGELES , December 11, 2012 () – Grupo Pão de Açúcar SA expects sales to grow more than 50% to 87.5 billion reais (US$42.1 billion) between now and 2015, according to an article in local newspaper Valor Economico on Dec. 11 and reported by Reuters the same day. The newspaper did not name the source of the information, Reuters reported.

The company, Brazil's largest retailer, is planning to open 120 Minimercado Extra convenience stores per year

The company expects to increase revenue by opening about 120 new Minimercado Extra convenience stores a year for the next three years, the newspaper reported.

By 2015, capital spending will hit 3.2 billion reais in 2015, versus 1.8 billion reais this year, according to the report.

A Pão de Açúcar spokespersonwas not immediately available for comment, Reuters reported.

The primary source of this article is Reuters, London, England, on Dec. 11, 2012.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.