Insight Report 2 minutes Premium

GPA (PCAR4) 4Q15 Results: Grupo Pão de Açúcar’s 4Q Revenues Flattish but with Lower Margins, Price Competition to Continue in 2016

Executive Summary

  • Grupo Pão de Açúcar reported flat 4Q15 revenues of BRL$19.7 billion, slightly below the consensus estimate of BRL$19.9 billion. EPS was BRL$0.55, falling far short of the consensus estimate of BRL$0.99.
  • GPA’s consolidated same-store sales declined 2.3% in 4Q15, and 1.2% overall for 2015, due mostly to the decline in sales of durable goods. During 4Q15, GPA opened 25 new stores, 24 of which were food retailers.
  • In 2016, the company intends to continue to focus on price competitiveness during Brazil’s economic slowdown.

This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.
If you wish to learn more about our subscription plans and become a paying subscriber, click here.