FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of February, 1999
Brazilian Distribution Company (Companhia Brasileira de Distribuicao - CBD)
(Translation of Registrant's Name Into English)
Av. Brigadeiro Luiz Antonio,
3126 Sao Paulo, SP 01402-901
Brazil
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F [X] Form 40-F [ ]
(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes [ ] No [X]
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
COMPANHIA BRASILEIRA DE DISTRIBUICAO
Date: February 24, 1999 By: /s/ Augusto Marques da Cruz Filho
-----------------------------------------
Name: Augusto Marques da Cruz Filho
Title: Chief Financial Officer
By: /s/ Ricardo Florence dos Santos
-----------------------------------------
Name: Ricardo Florence dos Santos
Title: Market Relations Officer
[LOGO]
For additional 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 (CBD) ANNOUNCES
JANUARY 1999 NET SALES FIGURES
January 1999 Same Store Sales Increase 11.7%
Sao Paulo, Brazil, February 24, 1999 - Companhia Brasileira de Distribuicao
(NYSE:CBD, BOVESPA:PCAR4) today announced preliminary, non-audited January 1999
net sales figures. The information discussed below represents net sales
variations of all CBD stores and same store formats.
Total net sales for January 1999 increased 45.7% to R$ 416.7 million compared to
the same period of 1998. Same store net sales in January grew 11.7% compared to
January 1998.
Net Sales by Division 1999/1998 - Variation (%)
(Preliminary, non-audited)
------------------------------------------------------------
Nominal Currency Constant Currency
(Corporate Law) (Indexed by IGP-DI)
----------------------------- ------------------------------
January January
- ----------------------------------------------- ------------------------------
Total Same Total Same
- ----------------------------------------------- ------------------------------
Pao de Acucar 24.3% 16.6% 22.1% 14.5%
Extra 99.9% 11.1% 96.3% 9.1%
Eletro 14.6% -10.2% 12.6% -11.9%
- ----------------------------------------------- ------------------------------
CBD 45.7% 11.7% 43.0% 9.7%
- ------------------------------------------------------------------------------
Due to the unavailability of January figures published by ABRAS (Brazilian Food
Retailers Association), CBD sales performance is not compared with the sector
performance at this time.
Factors which contributed to these results were:
o Performance of the renovated and reopened Pao de Acucar stores during 1998,
demonstrating customer satisfaction with store improvements and employee
training;
o Strengthened customer loyalty at the supermarket and hypermarket divisions,
increasing number of clients by 54.0% compared to the same period in 1998.
o Performance of the 12 stores added to the Extra hypermarket division during
the second half of 1998;
- more -
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Companhia Brasileira de Distribuicao
Page 2
o Reduction of Eletro division sales in the same store concept due to the
recent Real devaluation. As a result, sales from the Eletro division as a
percentage of total sales, decreased to 7.3% compared to 9.3% in January
1998.
o Positive sales evolution of the Extra and Pao de Acucar divisions in the
same store concept, indicating that sales of food products have not been
affected following recent changes in the Brazilian currency policies;
Recent Events
Shareholder control of Peralta Comercial e Importadora S.A.: On February 1,
1999, CBD became the majority shareholder of Peralta Comercial e Importadora
S.A. through a subscription of common shares. From a total of 38 stores, 37
supermarkets will be converted into Pao de Acucar and Barateiro stores, adding
approximately 48,000 m2 of total floor space, and the only hypermarket from this
chain will be operated under the Extra format.
Following the Peralta transaction, Companhia Brasileira de Distribuicao operates
a total of 322 stores in 11 Brazilian states through three 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
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