date:Dec 20, 2013
ct as economists in Brazil are forecasting weaker growth and higher inflation next year, forcing retailers to fight for each other's market share.
GPA expects to reduce sales, general and administrative expenses to 17% of net revenue by 2016, from 19.6% currently. The retailer also expects sales in stores, which are open at least 12 months, to continue to rise, faster than inflation.
GPA expects to open 400 new food stores and 360 new convenience stores in its Mini Mercado format. The group's