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 May, 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]
<PAGE>
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: May 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] COMPANHIA BRASILEIRA DE DISTRIBUICAO
Grupo Pao de Acucar
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
APRIL 1999 NET SALES FIGURES
o April 1999 all stores sales grew 33.8%
o Higher Easter related sales in March 1999 compared to
April 1998
o Same store sales increased 0.3%
o Number of clients grew 68.4% compared to April 1998,
whereas floor space increased 43.3% in the same period
Sao Paulo, Brazil, May 19, 1999 - Companhia Brasileira de Distribuicao
(NYSE:CBD, BOVESPA:PCAR4) today announced preliminary, non-audited April 1999
net sales figures. The information discussed below represents net sales
variations of CBD all stores and same store formats.
Total net sales for April 1999 increased 33.8% to R$431.8 million compared to
the same period of 1998. Sales in constant currency (indexed by IGP-DI)
demonstrated a 23.4% growth during April 1999. Same store net sales in April
grew 0.3% compared to April 1998.
Net Sales by Division 1999/1998 - Variation (%)
(Preliminary, non-audited)
<TABLE>
<CAPTION>
--------------------------------------------------------------
Nominal Currency Constant Currency
(Corporate Law) (Indexed by IGP-DI)
------------------------------- ------------------------------
------------------------------- ------------------------------
April April
- -------------------------------------------------------- ------------------------------
------------------------------- ------------------------------
Total Same Total Same
- -------------------------------------------------------- ------------------------------
<S> <C> <C> <C> <C>
Pao de Acucar 15.0% 7.6% 6.1% -0.8%
Extra 53.3% -4.6% 41.4% -12.0%
Barateiro - 25.7% - 16.0%
Eletro -2.6% -29.3% -10.1% -34.8%
- -------------------------------------------------------- ------------------------------
CBD 33.8% 0.3% 23.4% -7.5%
- ---------------------------------------------------------------------------------------
</TABLE>
Factors which contributed to these results were:
o Easter related sales occurred mostly in March 1999 compared to April 1998.
Therefore, April 1998 sales represent a strong comparative month compared
to April 1999;
o Supermarket operations (represented by Pao de Acucar and Barateiro stores)
presented improved performance compared to the hypermarket division
(represented by Extra stores), mainly due to the higher food products
participation in its sales mix (95%). Non-food products in the Extra
division declined to less than 30% of total sales.
- more -
<PAGE>
o CBD continues to increase its customer base. Based on the number of sales
transactions, the number of CBD clients increased 68.4% compared to April
1998. CBD sales area in the same period increased 43.3%. This mainly
reflects the Company's commitment and effort to satisfy customers' needs
through a continuous investment program of store modernization and employee
training;
o The Eletro division continued to show a decrease in same store sales,
reflecting the effects of the Brazilian currency devaluation and high
interest rates.
o Same store sales in the Barateiro division increased 25.7%, mainly due to
the performance of 2 stores, formerly part of the Superbox division, which
were added to the Barateiro division, as well as 20 Pao de Acucar
supermarkets and 23 Peralta supermarkets converted into Barateiro stores.
Sales from the Barateiro stores acquired in June 1998, as well as stores
from the Peralta chain acquired in February 1999 will only be included in
same store sales format as of June 1999 and February 00, respectively.
There continues to be a trend toward reduced credit sales, lowering the
Company's exposure to credit risk. As a result, the Company recorded an increase
in cash and credit card sales, and a decrease in installment and post-dated
check sales.
<TABLE>
<CAPTION>
- ------------------------------ ------------------------ ------------------------- ------------------------ ------------------------
Form of Payment 3Q98 4Q98 1Q99 April
- ------------------------------ ------------------------ ------------------------- ------------------------ ------------------------
<S> <C> <C> <C> <C>
Cash 51.8% 53.8% 56.2% 56.2%
Credit Card 22.1% 21.5% 22.9% 23.3%
Food Voucher 7.5% 7.3% 7.3% 7.1%
Post-dated Checks 12.8% 11.9% 10.5% 10.4%
Installments 5.8% 5.5% 3.2% 3.0%
- ------------------------------ ------------------------ ------------------------- ------------------------ ------------------------
</TABLE>
Companhia Brasileira de Distribuicao operates a total of 321 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.gruppaodeacucar.com.br
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