In Brazil, Pão de Açúcar has reported that it saw growth in both sales and income during the first quarter of 2012.
The retailer, which is owned by France-based Casino, said that net sales jumped 11.8 per cent through the opening three months of the year to BRL12.1bn (US$6.6bn), helped by sales growth of 25.2 per cent at its cash & carry outlet Assia.
Net income jumped 25.8 per cent year-on-year to BRL167m (US$91m), the group noted, while earning before interest, taxation, depreciation and amortisation improved by 30.1 per cent to BRL758m (US$413m).
