São Paulo – Brazilian supermarkets’ inflation-discounted revenues were up 8.44% in March from February and 4.16% in March from March 2015. In Q1 from Q1 2015, revenues increased by 1.18%.
The numbers are from the National Sales index survey of the Brazilian Supermarkets Association (Abras). Abras’ president Fernando Yamada ascribed the growth to the fact that Easter was celebrated in March. He remarked that sales-wise, Easter is the second best time of year for the sector. Despite the increase, the executive argued that revenues were down 0.36% in January and February, in line with expectations of a poor performance this year.
“However, April numbers are expected to match those of April 2015. As a result, the same outlook remains as when this year began, of a 1.8% drop in sales in 2016,” he said.
*Translated by Gabriel Pomerancblum
