News and insight for North America's fresh produce buyers
Carl Collen

BY CARL COLLEN

Wednesday 7th May 2008, 18:00 Central Time

CBD net sales jump

The first quarter of 2008 saw a rise in operating profit and net income

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Casino-owned CBD has revealed a first-quarter net sales increase of 20 per cent to BRL4.2bn (US$2.4bn), attributed to the consolidation of the Assai chain and the impact of Easter sales on the group. Net income totalled BRL36.1m (US$21.1m) while operating profit stood at BRL131.7m (US$77m).

Meanwhile, the group has won a multi-million real court battle against Sendas, following claims by the group that CBD should be forced to buy US$409m worth of company shares. CBD acquired a 42.57 per cent stake in Sendas in 2004. 

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