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Companhia Brasileira de Distribuicao (PCAR4.SA)

PCAR4.SA on Sao Paulo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Casino says 2017 profit guidance is cautious
Tuesday, 7 Mar 2017 05:55am EST 

Casino Chairman and CEO Jean-Charles Naouri and CFO Antoine Giscard d'Estaing tell a news conference: CEO says expects good comercial trend at Brazil's retailer GPA in 2017 along Q4 2016 trend . CFO says group EBIT growth guidance for 2017 is "cautious" . CEO says group has not yet decided what it will do with the cash raised from Via Varejo unit sale . CFO eyes 2017 capex of a lttle under 1 billion euros . CEO says cash from Via Varejo consumer electronics unit sale could be used to reduce financial expenses or to accelerate Assai cash & Carry stores expansion in Brazil . CFO says goal remains for French geant hypermarkets to break even in 2017 . CEO says group has no plans to launch cash & carry stores in France .CEO says first four weeks of 2017 sho business trends in France close to those of Q4 2016.  Full Article

Brazil's CNova unit finishes internal investigation - GPA
Tuesday, 26 Jul 2016 10:19pm EDT 

: Brazil's Companhia Brasileira de Distribuicao, also known as GPA SA , Brazil's largest retailer, said the internal investigation into the group's subsidiary CNova Brasil had finished . The investigation's findings regarding inflated sales, inconsistencies in reporting stocks and other irregular accounting has already prompted the Brazilian unit of CNova to lower its yearend financial statements stretching back to December 2013 . The administration of GPA recommends that it restate its yearend financial results for the past three years to reflect the adjustments to CNova NV's adjusted statements . The company said if approved by the board, it could result in a reduction of GPA's net income by 512 million reais as well as a reduction of its net worth of company assets by 304 million reais over the period Related story [nL2N1882DK] (Reporting by Reese Ewing) ((reese.ewing@thomsonreuters.com; +5511 98160-4173)) Keywords: P. ACUCAR CBD CNOVA/VIA VAREJO.  Full Article

Companhia Brasileira de Distribuicao to incorporate part of its unit Sendas after partial spin-off
Friday, 4 Mar 2016 06:39am EST 

Companhia Brasileira de Distribuicao:Says has approved to incorporate part of Sendas Distribuidora SA's (Sendas) assets and liabilities as a result of partial spin-off.Says share capital of Sendas will be reduced by 7.2 million Brazilian reais, as a result o cancellation of 6.3 million shares of Companhia Brasileira de Distribuicao's ownership.Says incorporation is in line with the company's strategy of corporate and business structures optimization.Sees costs of carrying out partial spin-off of about 300,000 reais, including expenses with publication, auditors, lawyers and other professionals hired to assist the operation.Says spun-off elements include: assets of 1.63 billion reais, liabilities of 1.62 billion reais and shareholders’ equity of 7.2 million reais.Says has approved to incorporate Barcelona Comercio Varejista e Atacadista SA into Sendas prior to partial spin-off of Sendas.  Full Article

GPA bets on organic growth, similar strategy for 2018: CEO

SAO PAULO, Oct 27 Brazilian retailer GPA SA is currently focused on organic growth rather than acquisitions, Chief Executive Ronaldo Iabrudi said in a conference call on Friday following the release of the company's quarterly results.