[GRAPHIC OMITTED]
- --------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE
For More Information Please Contact:
Ricardo Florence dos Santos David Carey / Rosemary Otero
Companhia Brasileira de Distribuicao Edelman Financial
(55-11) 886-0421 (212) 704-4449 / 4486
[email protected] [email protected]
Companhia Brasileira de Distribuicao Reports
Second Quarter and First Half 1999 Results
o Total sales grew 31.2% compared to 2Q98 (Same store sales grew 4.6%)
o EBITDA grew 15.6% compared to 2Q98
o Number of customers increased 54% compared to 2Q98, average floor space
increased 27%
o Company studies strategic partnership
Sao Paulo, Brazil, August 5, 1999 - Companhia Brasileira de Distribuicao
(NYSE:CBD; BOVESPA:PCAR4) today announced second quarter and first half 1999
financial results. CBD has been releasing its results in accordance with the
accounting principles defined by the corporate law method (R$ in nominal
values). However, in order to compare figures released by ABRAS regarding sector
growth, CBD also reports sales data in constant currency, indexed by the IGP-DI
inflation index, which is used by ABRAS.
During the second quarter 1999, nominal net sales reached R$1,312.1 million
compared to R$969.3 million during the same period in 1998, a 35.4% increase.
During the first half 1999, nominal net sales totaled R$2,569.9 million, a 40.3%
growth compared to the first six months of 1998. Nominal net sales, including
sales from the Barateiro chain in June 1998, as well as sales from the Millo's
chain in the second quarter 1998 (prior to its incorporation into the CBD
group), during the first half 1999 grew 38.4%. Same store sales grew 6.8% in the
first half 1999.
Total sales variations are presented below in constant currency compared to
sector performance figures for total stores published by ABRAS (Brazilian Food
Retailers Association):
Net Sales Evolution by Division- Variation (%) 1999/1998 - Consolidated
---------------------------------------------------------
Nominal Currency
(Corporate Law)
---------------------------------------------------------
Second Quarter 1999 First Half 1999*
-------------------------- ----------------------------
All Stores Same Store All Stores Same Store
-------------------------- ----------------------------
Pao de Acucar 19.1 11.1 23.1 14.0
Extra 54.3 1.9 64.8 3.5
Barateiro - 18.0 - 18.8
Eletro 1.4 -26.8 4.4 -22.9
- --------------------------------------------------------------------------------
CBD* 31.2 4.6 38.4 6.8
- --------------------------------------------------------------------------------
---------------------------------------------------------
Constant Currency
(Indexed by IGP-DI)
---------------------------------------------------------
Second Quarter 1999 First Half 1999*
-------------------------- ----------------------------
All Stores Same Store All Stores Same Store
-------------------------- ----------------------------
Pao de Acucar 10.0 2.5 15.8 7.3
Extra 42.5 -5.9 55.0 -2.9
Barateiro - 9.0 - 10.2
Eletro -6.4 -32.4 -1.7 -27.4
- --------------------------------------------------------------------------------
CBD* 21.1 -3.5 30.1 0.3
- --------------------------------------------------------------------------------
* Includes Peralta sales in February 1999, when these stores were not
incorporated into the CBD stores. The first quarter of 1998 includes sales from
the Millo's chain, when those stores were not incorporated into the CBD stores.
These results also include sales from the retired Superbox stores, as well as
June 1998 sales from the Barateiro division.
<PAGE>
Management's Comments
o The supermarket division, represented by Pao de Acucar and Barateiro stores,
continued to show positive performance resulting from favorable food product
sales. The non-food product segment continued to be affected by the
Brazilian currency devaluation, reflecting the decrease in sales in the
Eletro division and lower performance of the Extra format compared to the
supermarket division. It is important to mention that the second quarter of
1998 represents a strong comparative quarter for the electronics segment,
since that quarter include high television sales volume prior to the World
Cup event.
o The month of June represented the initiation of same store sales comparisons
for the 32 Barateiro stores. Since acquiring this chain in June 1998, 7 of
these stores have been converted into Extra hypermarkets and 25 supermarkets
have been maintained as Barateiro stores.
o The significant increase in sales is mainly due to the growth in the number
of customers, which exceeded the increase in floor space. Based on the
number of sales transactions, the number of customers increased 54% compared
to the second quarter 1998, significantly higher than the 27% increase in
floor space registered during the same period. This was mainly due to
continuous investments made by the Company in store renovations, employee
training and improved customer service.
o According to the ABRAS index (constant currency - indexed by IGP-DI), the
retail sector fell 3.7% in the second quarter 1999 compared to the same
period in 1998. CBD's net sales (constant currency - indexed by IGP-DI) grew
21.1% in the second quarter 1999 compared to the same quarter in 1998,
demonstrating the Company's market share gains.
o Gross profit reached R$354 million in the second quarter 1999, compared to
R$262 million in the same period in 1998, registering a 35% growth.
Economies of scale, adjustment of sales mix to the current economic
scenario, as well as development of high value added products, allowed CBD
to maintain its gross margin at 27% (even considering the higher
participation of hypermarkets in the Company's store mix).
o EDI (Electronic Data Interchange) purchases reached 41% in the second
quarter of 1999 compared to 19% in the same period in 1998.
o Earnings before interest, taxes, depreciation and amortization (EBITDA)
during the second quarter increased 15.6% to R$85.7 million compared to
R$74.2 million in the second quarter in 1998. EBITDA margin remained stable
at 6.5% compared to the first quarter 1999, confirming productivity gains
obtained.
o In the second quarter of 1999, CBD registered financial expense of R$90.5
million, including the exchange loss recorded in the period. The exchange
variation line item (R$4.5 million) relates to losses recognized in the
first quarter 1999 only.
o CBD's number of shares increased by 68,523 thousand preferred shares, to a
total of 78,405,280 thousand, as a result of the conversion of 50 debentures
from the first issue (1,857 thousand preferred shares) and 2,000 debentures
from the second issue (66,666 thousand preferred shares).
o Net income in the second quarter 1999 was R$17.1 million compared to R$45.8
million in the same period in 1998. As a result of the Brazilian currency
devaluation in the first quarter of the year, the Company posted first half
1999 net loss of R$61.9 million compared to a net profit of R$78.3 million
in the same period in 1998. Second quarter 1999 net income per 1,000 shares,
based on shares outstanding at June 30, 1999, was R$0.22, compared to R$0.59
per 1,000 shares in the second quarter 1998.
Investments
Investments totaled R$109.6 million in the second quarter compared to R$395.5
million in the same period in 1998. First half 1999 investments reached a total
of R$313.3 million compared to R$531.0 million in the same period in 1998.
Investments during the quarter consisted of:
o Opening of a new Pao de Acucar store in Brasilia;
o Closing of a Pao de Acucar store in Sao Paulo and another in Fortaleza, as
well as one Barateiro supermarket in Sao Paulo;
o Conversion of a Barateiro store into an Extra hypermarket;
<PAGE>
o Conversion of the Guassu supermarket (acquired in the first quarter 1999)
into a Barateiro supermarket;
o Renovation of five Pao de Acucar supermarkets and three Extra hypermarkets;
o Acquisition of the real estate for a hypermarket in Belo Horizonte,
previously owned by Caixa dos Empregados da Usiminas (Usiminas employee
fund) and leased from Paes Mendonca, with a total area of 12,480 square
meter. CBD will pay R$37 million for this store in 73 monthly payments,
adjusted by IGP-M (inflation rate) with an annual interest rate of 6%. This
store will be operated by Novasoc Comercial and converted into an Extra
hypermarket in the third quarter 1999;
o Construction of a new warehouse adjacent to the current distribution center,
with 31,000 square meters. This investment will enable CBD to optimize the
logistic operations of general merchandise, and allocate a larger area for
the distribution of fruits and vegetables as well as cross-docking
operations in the current distribution center.
Novasoc Comercial Ltda.
During the month of June 1999, 10 stores leased from the Paes Mendonca chain
through Novasoc Comercial Ltda, began operations under the Pao de Acucar (9) and
Barateiro (1) formats. The transfer of products from CBD's distribution center
to these stores totaled R$4 million.
The hypermarkets and remaining supermarkets are currently undergoing renovation
and conversion to CBD store formats, and are expected to reopen in the second
half of 1999. Investments in conversion and renovation, including the warehouse
in Rio de Janeiro, are estimated at R$70 million.
Net sales from Novasoc Comercial Ltda. until June 30, 1999 was R$13.1 million.
With the reopening of renovated stores during the second half of the year, there
will be a trend of substantial operational growth.
Stores by Division
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------
Pao de Extra Superbox Eletro Barateiro Peralta CBD Floor Number
Acucar Space of
(m2) Employees
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
06/30/98 149 17 10 62 32 - 270 446,768 28,842
Opened 1 - - 13 - - 14
Closed - - - - - - -
Converted - 5 (3) - (2) - -
09/30/98 150 22 7 75 30 - 284 464,315 28,153
Opened - 2 - 1 - - 3
Closed (2) - (1) - - - (3)
Converted (1) + 2 6 (6) - (4) + 3 - -
12/31/98 149 30 - 76 29 - 284 470,591 31,343
Opened 1 - - - - 38 39
Closed - - - (2) - - (2)
Converted (18) + 14 1 - 23 + 18 (38) -
03/31/99 146 31 - 74 70 - 321 514,229 33,653
Opened 1 - - - 1 - 2
Closed (2) - - - (1) - (3)
Converted - 1 - - (1) - -
- ---------------------------------------------------------------------------------------------------
06/30/99 145 32 - 74 69 - 320 516,035 33,119
- ---------------------------------------------------------------------------------------------------
</TABLE>
Summary of Store Conversion
-----------------------------------------------------
3Q98 4Q98 1Q99 2Q99
- --------------------------------------------------------------------------------
Peralta -- Pao de Acucar 14
Superbox -- Pao de Acucar 2
Pao de Acucar -- Barateiro 1 18
Peralta -- Barateiro 23
Superbox -- Barateiro 2
Superbox -- Extra 3 2
Barateiro -- Extra 2 4 1
Peralta -- Extra 1
- --------------------------------------------------------------------------------
<PAGE>
Year 2000 Compliance
Since July 1997, CBD has been updating its operation systems to ensure proper
functioning. CBD developed the project "Year 2000", focusing on identifying the
risks and impacts in business processes, establishing methods and timetables,
determining costs and allocating necessary resources for a permanent solution
for problems related to the millennium bug.
Investments for conversion and updating of programs, substitution of software,
change of equipment, third party service contracting and utilization of internal
resources estimated at R$6,300 thousand, from which until June 30, 1999, R$5,056
thousand have already been allocated. CBD estimates the remaining balance to be
used by the end of the year.
CBD elected a director responsible for the project and formed a work group for
its implementation. The project was executed in six phases: (1) inventory; (2)
impact analysis; (3) planning; (4) conversion; (5) testing; and (6)
implementation. The project was completed on June 30, 1999.
In addition, the Company analyzed and tested the main elements of the supply
chain, CBD partners and service and equipment suppliers, through the contracting
of external consultants, whom issued their audit stating that the Company will
not be affected by the year 2000 transition.
CBD created a contingency plan comprised of three elements: hardware, software
and technicians, as follows.
Hardware:
All equipment acquired by CBD since January 1998, which represents 90% of all
computer equipment, are Y2K compliant. In addition, the same equipment has
warranties covering replacement, maintenance and support. The remaining 10% of
computer equipment has been tested and is also Y2K compliant, as well as has
maintenance and support warranty contracts. The Company maintains a stock of
equipment, including PDV (point of sale), sufficient to immediately attend to
any operational or processing error in the stores, distribution center or
headquarters. In November 1999, the Company expects to reinforce the inventory
of these equipment to repair any problems, not only in the state of Sao Paulo,
but also in the main regional centers for other states.
Software:
All necessary software for the Company's operations, either owned by the Company
or by third parties, were converted or replaced, tested, and already operates
with a 4-digit date, Y2K compliant. All software is registered and, in case of
an error, can be quickly replaced or corrected.
Technicians:
All software will undergo strong supervision and monitoring until February 2000,
by both CBD's "Year 2000" work group and external consultants. During December
1999 and January 2000, both internal team and external consultants will be on
call and will conduct extensive monitoring, 24 hours a day. The plan's provides
CBD with confidence that the Company is prepared for any incident.
CBD also conducted a "Millennium Test", including a year 2000 simulation, in the
production environment, with total monitoring. The result of this test was
convincing and allowed CBD's management to be assured that the Company will not
suffer any interruption due to the millennium bug.
Recent Events
Leasing of Mappin Stores
In July 1999, CBD announced the leasing of two stores previously operated by
Mappin Lojas de Departamento S.A. and owned by third parties, in the city of Sao
Paulo. CBD will also lease the installations and equipment for a period of 20
years.
CBD plans to convert both stores into Extra hypermarkets, as well as maintaining
800 employees from these stores.
<PAGE>
CBD's legal department is taking the necessary measures to preserve its rights
following the announcement of Mappin's bankruptcy.
Extraordinary Shareholders Meeting
CBD is holding an Extraordinary Shareholders Meeting on August 9, 1999, to
discuss the following proposals:
1. Increase in the limit of authorized capital from 100,000,000,000 to
150,000,000,000 shares, as well as to gauge the possibility of issuing
additional common shares by the Board of Directors, independent from charter
reform, within the limits of authorized capital;
2. Non-utilization of remaining authorized balance of the second issue of
debentures;
3. Discussion of a proposal presented by the Board of Directors for a third
debenture issue;
4. Other company issues.
Strategic Partnership
Given the accelerated process of consolidation occurring in the Brazilian retail
market and given CBD's focus on strengthening its capital structure, CBD has
been actively studying the possibility of the sale to a strategic shareholder of
a significant minority interest in equity of the Company.
In this connection, CBD in recent months has been approached by various
international retail groups. CBD is negotiating with at least one such group,
but to date no contract has been signed.
Companhia Brasileira de Distribuicao operates a total of 320 stores in 11
Brazilian states through four formats. In addition to the Pao de Acucar and
Barateiro supermarket divisions, the Company operates Extra hypermarkets and
Eletro home appliance stores.
http: //www.grupopaodeacucar.com.br
(5 pages of tables)
<PAGE>
COMPANHIA BRASILEIRA DE DISTRIBUICAO
Income Statement - Corporate Law Method
<TABLE>
<CAPTION>
- ---------------------------------------------------------------------------------------------------------------
Second Quarter First Half
----------------------------------------------------------------------------------
R$ thousand 1999 1998 % 1999 1998 %
- ---------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Net Sales Revenue 1,312,172 969,348 35.4% 2,569,999 1,831,301 40.3%
Cost of Sales (957,825) (707,581) 35.4% (1,872,450) (1,341,013) 39.6%
Gross Profit 354,347 261,767 35.4% 697,549 490,288 42.3%
Operating Income (Expenses)
Selling Expense (211,710) (146,732) 44.3% (413,271) (286,483) 44.3%
General and Administrative (56,914) (40,880) 39.2% (114,981) (82,503) 39.4%
Total Operating Expenses (268,624) (187,612) 43.2% (528,252) (368,986) 43.2%
Operating Income Before Taxes,
Deprec. and Fin. Income (Exp.) -
EBITDA 85,723 74,155 15.6% 169,297 121,302 39.6%
Depreciation (37,221) (23,015) 61.7% (71,485) (41,593) 71.9%
Operating Income Before Taxes
and Financial Income (Exp.) - 48,502 51,140 - 5.2% 97,812 79,709 22.7%
EBIT
Taxes and Charges (7,057) (4,424) 59.5% (13,038) (8,807) 48.0%
Financial Income 74,940 57,024 31.4% 139,696 117,812 18.6%
Financial Expense (94,982) (42,472) 123.6% (328,937) (84,480) 289.4%
Currency variation (4,477) - - (143,251) - -
Net Financial Income (Loss) (20,042) 14,552 - 237.7% (189,241) 33,332 - 667.7%
Operating Income (Loss) 21,403 61,268 - 65.1% (104,467) 104,234 - 200.2%
Losses in Invested Companies (51) - - (1,415) - -
Equity Income (1) (4) - (1) (28) -
Non-Operating Results 640 221 189.6% 341 (1,401) - 124.3%
- ---------------------------------------------------------------------------------------------------------------
Income (Loss) Before Income 21,991 61,485 - 64.2% (105,542) 102,805 - 202.6%
Tax
- ---------------------------------------------------------------------------------------------------------------
Income Tax (4,935) (15,725) - 68.6% 43,684 (24,538) - 278.0%
- ---------------------------------------------------------------------------------------------------------------
Net Income (Loss) 17,056 45,760 - 62.7% (61,858) 78,267 - 179.0%
Net Income (Loss) per 1,000 shares 0.218 0.586 - 62.8% (0.789) 1.002 - 178.7%
No. of shares (in thousand)
at the end of the period 78,405,280 78,116,125 78,405,280 78,116,125
- ---------------------------------------------------------------------------------------------------------------
% of Net Sales
Gross Profit 27.0% 27.0% 27.1% 26.8%
Total Operating Expenses - 20.5% - 19.3% - 20.5% - 20.2%
Selling Expenses - 16.1% - 15.1% - 16.1% - 15.7%
General and Administrative - 4.4% - 4.2% - 4.4% - 4.5%
EBITDA 6.5% 7.7% 6.6% 6.6%
Depreciation - 2.8% - 2.4% - 2.8% - 2.3%
EBIT 3.7% 5.3% 3.8% 4.3%
Taxes and Charges - 0.5% - 0.5% - 0.5% - 0.5%
Net Financial Income (Expense) - 1.5% 1.5% - 7.4% 1.8%
Income Before Income Tax 1.7% 6.3% - 4.1% 5.6%
Income Tax - 0.4% - 1.6% 1.7% - 1.3%
Net Income (Loss) 1.3% 4.7% - 2.4% 4.3%
- ---------------------------------------------------------------------------------------------------------------
</TABLE>
The first quarter of 1998 does not include sales from the Millo's chain as well
as June 1998 sales from the Barateiro stores, prior to their incorporation into
the CBD stores.
<PAGE>
COMPANHIA BRASILEIRA DE DISTRIBUICAO
Balance Sheet
- --------------------------------------------------------------------------------
R$ thousand June 30, March 31,
1999 1998 1999
- --------------------------------------------------------------------------------
ASSETS
Current Assets
Cash and Banks 21,230 14,569 23,601
Short-term Investments 199,514 236,050 295,247
Accounts Receivable 361,356 361,255 369,261
Installment Sales 106,529 141,496 116,009
Post Dated Checks 111,915 107,168 109,729
Credit Card and Other 162,189 135,907 162,786
Allowance for Doubtful
Accounts (19,277) (23,316) (19,263)
Advances to Suppliers 10,553 10,874 9,365
Taxes Recoverable 52,183 4,345 65,272
Other Receivables 19,403 13,945 16,457
Inventories 335,659 236,343 325,725
Prepaid Expenses 9,122 8,931 12,047
Total Current Assets 1,009,020 886,312 1,116,975
Long-term Receivables
Installment Sales 2,857 8,014 3,560
Deferred Income Tax 61,668 22,756 66,914
Judicial Deposits 37,674 27,005 35,421
Associated Companies 61,199 5,496 35,315
Prepaid Expenses 4,892 7,165 5,310
Total Long-term Receivables 168,290 70,436 146,520
Investments 151,566 350,725 153,557
Property and Equipment 1,499,617 1,066,493 1,417,586
Deferred Charges 360,198 29,097 371,984
Exchange Variation 67,162 - 71,639
Total Permanent Assets 2,011,381 1,446,315 1,943,127
TOTAL ASSETS 3,188,691 2,403,063 3,206,622
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities
Suppliers 453,892 358,757 478,462
Loans and Financing 744,451 297,764 513,124
Domestic Currency 77,295 19,141 68,003
Foreign Currency 667,156 278,623 445,121
Payable on Purchase of Assets 107,471 60,390 153,419
Debentures 8,093 7,246 26,290
Taxes on Sales 14,075 11,972 14,127
Tax Installments 10,466 8,697 9,995
Salaries and Payroll Charges 59,304 49,281 55,021
Associated Companies 4,890 - -
Dividends - 16,112 39,013
Other 27,532 20,247 34,275
Total Current Liabilities 1,430,174 830,466 1,323,726
Long-term Liabilities
Financing 266,336 411,242 468,395
Domestic Currency 260,906 212,345 276,840
Foreign Currency 5,430 198,897 191,555
Payable on Purchase of Assets 46,092 3,671 22,291
Debentures 336,565 108,642 333,090
Deferred Income Tax 7,742 8,966 8,053
Tax Installments 21,696 29,255 23,861
Other Accruals 165,256 74,816 131,645
Total Long-term Liabilities 843,687 636,592 987,335
Shareholders' Equity
Capital 542,687 537,730 540,474
Capital Reserves 4,050 4,050 4,050
Revenue Reserves 368,093 394,225 351,037
Total Shareholders' Equity 914,830 936,005 895,561
TOTAL LIAB. AND SHAREHOLDERS EQUITY 3,188,691 2,403,063 3,206,622
- --------------------------------------------------------------------------------
<PAGE>
Sales Breakdown per Division
In R$ thousand - Nominal (Corporate Law)
---------------------------------- --------
APRIL 1999 % 1998 % Var.(%)
- ------------------------------------------------ --------
Pao de Acucar 159,539 36.9% 138,747 43.0% 15.0%
Extra 194,233 45.0% 126,688 39.3% 53.3%
Barateiro 58,153 13.5% - - -
Eletro 19,926 4.6% 20,453 6.3% - 2.6%
- ------------------------------------------------ --------
CBD 431,851 100.0% 322,704 100.0% 33.8%
- ------------------------------------------------ --------
---------------------------------- --------
MAY 1999 % 1998 % Var.(%)
- ------------------------------------------------ --------
Pao de Acucar 165,581 36.6% 136,390 41.3% 21.4%
Extra 205,414 45.4% 133,685 40.4% 53.7%
Barateiro 55,606 12.3% - - -
Eletro 25,797 5.7% 26,092 7.9% - 1.1%
- ------------------------------------------------ --------
CBD 452,398 100.0% 330,582 100.0% 36.8%
- ------------------------------------------------ --------
---------------------------------- --------
JUNE 1999 % 1998 % Var.(%)
- ------------------------------------------------ --------
Pao de Acucar 159,345 37.2% 131,561 37.9% 21.1%
Extra 188,632 44.1% 120,840 34.8% 56.1%
Barateiro 55,694 13.0% 42,449 12.2% 31.2%
Eletro 24,252 5.7% 22,490 6.5% 7.8%
- ------------------------------------------------ --------
CBD 427,923 100.0% 346,914 100.0% 23.4%
- ------------------------------------------------ --------
---------------------------------- --------
2ND QUARTER 1999 % 1998 % Var.(%)
- ------------------------------------------------ --------
Pao de Acucar 484,465 36.9% 406,698 40.7% 19.1%
Extra 588,279 44.8% 381,213 38.1% 54.3%
Barateiro 169,453 12.9% 42,449 4.2% -
Eletro 69,975 5.4% 69,035 6.9% 1.4%
- ------------------------------------------------ --------
CBD 1,312,172 100.0% 1,000,200 100.0% 31.2%
- ------------------------------------------------ --------
---------------------------------- --------
1ST HALF 1999 % 1998 % Var.(%)
- ------------------------------------------------ --------
Pao de Acucar 973,889 37.5% 791,057 42.1% 23.1%
Extra 1,166,037 44.9% 707,355 37.7% 64.8%
Barateiro 294,919 11.4% 42,449 2.3% -
Eletro 135,154 5.2% 129,444 6.9% 4.4%
Peralta 27,049 1.0% - - -
- ------------------------------------------------ --------
CBD 2,597,048 100.0% 1,877,018 100.0% 38.4%
- ------------------------------------------------ --------
*Includes Peralta sales in February 1999, when these stores were not
incorporated into the CBD stores. The first quarter of 1998 includes sales from
the Millo's chain, when those stores were not incorporated into the CBD stores.
These results also include sales from the retired Superbox stores, as well as
June 1998 sales from the Barateiro division.
<PAGE>
Productivity Indexes
In R$ - Nominal (Corporate Law)
Sales per m2/month
-----------------------------------------------------
2Q99 2Q98 Var (%) 1H99 1H98 Var (%)
- -------------------------------------------------------------------
Pao de Acucar 983 850 15.6% 994 828 20.0%
Extra 864 985 -12.3% 872 926 - 5.0%
Barateiro 663 526 26.0% 666 526 26.6%
Eletro 600 657 - 8.7% 576 615 - 6.3%
- -------------------------------------------------------------------
CBD 849 750 13.2% 855 778 9.9%
- -------------------------------------------------------------------
Sales per Employee/month
-----------------------------------------------------
2Q99 2Q98 Var (%) 1H99 1H98 Var (%)
- -------------------------------------------------------------------
Pao de Acucar 12,824 13,205 - 2.9% 13,203 13,112 0.7%
Extra 17,477 21,450 -18.5% 17,847 20,957 - 14.8%
Barateiro 13,655 9,826 39.0% 13,599 9,826 38.4%
Eletro 13,487 14,555 - 7.3% 12,416 13,654 - 9.1%
- -------------------------------------------------------------------
CBD 13,110 12,421 5.5% 13,144 13,059 0.7%
- -------------------------------------------------------------------
Average Ticket
-----------------------------------------------------
2Q99 2Q98 Var (%) 1H99 1H98 Var (%)
- -------------------------------------------------------------------
Pao de Acucar 17.0 16.6 2.4% 17.0 16.5 3.0%
Extra 36.0 43.8 -17.8% 36.4 44.0 - 17.3%
Barateiro 11.7 14.8 -20.9% 12.6 14.8 - 14.9%
Eletro 192.0 193.2 - 0.6% 191.7 182.1 5.3%
- -------------------------------------------------------------------
CBD 22.0 25.8 -14.7% 22.4 25.9 - 13.5%
- -------------------------------------------------------------------
Sales per Check-out/month
-----------------------------------------------------
2Q99 2Q98 Var (%) 1H99 1H98 Var (%)
- -------------------------------------------------------------------
Pao de Acucar 91,984 79,557 15.6% 92,959 77,868 19.4%
Extra 117,261 129,930 - 9.8% 118,182 124,688 - 5.2%
Barateiro 66,291 63,929 3.7% 66,431 63,929 3.9%
Eletro 124,749 140,315 -11.1% 119,614 130,883 - 8.6%
- -------------------------------------------------------------------
CBD 97,919 85,575 14.4% 98,742 88,836 11.2%
- -------------------------------------------------------------------
Sales Breakdown (% of net sales)
---------------------------------------------------------
2Q98 3Q98 4Q98 1Q99 2Q99
- -------------------------------------------------------------------------------
Cash 49.5% 51.8% 53.8% 56.2% 55.8%
Credit 50.5% 48.2% 46.2% 43.8% 44.2%
Post-dated Checks 14.8% 12.8% 11.9% 10.5% 10.4%
Installments 6.0% 5.8% 5.5% 3.2% 3.9%
Credit Cards 22.3% 22.1% 21.5% 22.9% 23.0%
Food Voucher 7.4% 7.5% 7.3% 7.2% 6.9%
- -------------------------------------------------------------------------------
Selected Data per Division at June 30, 1999
------------------------------------------------
# # # Floor Space
Checkouts Employees Stores (m2)
------------------------------------------------
Pao de Acucar 1,752 12,654 145 164,428
Extra 1,684 11,024 32 228,212
Barateiro 849 4,098 69 84,526
Eletro 187 1,697 74 38,869
- --------------------------------------------------------------
Total 4,472 29,473 320 516,035
- --------------------------------------------------------------
Headquarters 3,646
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CBD 4,472 33,119 320 516,035
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