UPDATE 1-Brazil's GPA aims for stable capex in 2018, focused on new Assai stores [Reuters]
Companhia Brasileira de Distribuicao American Depsitary Shares; each representing one Common Share (CBD)
Last companhia brasileira de distribuicao american depsitary shares; each representing one common share earnings: 7/25 04:03 pm
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Source: Reuters
UPDATE 1-Brazil's GPA aims for stable capex in 2018, focused on new Assai stores | Reuters Reuters Staff 2 Min Read (Adds quote, details on Via Varejo sale, context, byline) By Alberto Alerigi SAO PAULO, Dec 5 (Reuters) - Brazilian retailer GPA SA is planning to invest 1.3 billion reais ($400 million) in 2018, in line with capital spending this year, an executive told journalists on Tuesday, as the company continues an expansion drive. Chief Executive Officer Ronaldo Iabrudi said GPA, owned by France’s Casino Guichard Perranchon SA, plans to focus investments in its most profitable formats and open about 20 stores per year in its Assai cash-and-carry format between 2018 and 2020. “We’re calibrating (capital spending) with cash generation,” he told journalists at the beginning of an investors’ day in Sao Paulo. “We’re putting money where it provides the most return.” GPA, like archrival Carrefour Brasil, has been investing heavily in cash-and-carry stores, which offer a wholesale exper
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