date:Jul 25, 2014
GPA SA , Brazil's biggest retailer, expects the gross profit margin of its food business to remain at the level seen in the second quarter, executives said on Thursday.
Under the command of France's Casino SA, GPA's supermarkets, hypermarkets and convenience stores have adopted a more aggressive pricing strategy, sacrificing gross margin to win market share as consumer demand stagnates.
On a conference call to discuss second-quarter earnings, Chief Executive Officer Ronaldo Iabrudi added that