Brazilian supermarket group Companhia Brasileira de Distribuicao has reported a 6.4% rise in same-store sales for August, following 10.3% growth in July.
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The company, which is popularly known by the name of its flagship supermarket chain Pao de Acucar, said total gross sales rose 23% to BRL1.29bn (US$444.5m) compared to the year-ago period. Net sales rose 20% to BRL1.06bn, reported Dow Jones International News.
The 6.4% rise in same-store sales in August came despite there being one fewer weekend in the August 2004 reporting period compared to August 2003. Same-store sales of food products rose 4.5% in August compared to year earlier, showing a marked improvement from weak sales in the first half of the year.
