SAO PAULO, July 28 (Reuters) - Carrefour Brasil SA's
sales growth especially in e-commerce has picked up
during the coronavirus pandemic, a trend likely to persist as
the retailer prepares to launch a new digital platform this
year, executives said on Tuesday.
The comments came after the company reported
stronger-than-expected quarterly results that boosted its
"With or without COVID-19, we will keep accelerating both
food and non-food sales," Chief Executive Noel Prioux told
analysts on a call. "Our e-commerce has already neared a
breakeven level and the new platform should help us keep a
relevant growth pace."
On Monday, the local subsidiary of France's Carrefour SA
reported a 75% jump in quarterly net income to 713
million reais ($138.00 million), buoyed by rising sales and cost
Shares of Carrefour Brasil rose 7% to 22.89 reais, marking
the best performance among stocks listed in Brazil's benchmark
The "most pleasant surprise" of the "very strong" results
was a 9% margin on adjusted earnings before interest, taxes,
depreciation and amortization (EBITDA), Credit Suisse analysts
said in a report, citing increased efficiency and aggressive
"Carrefour Brasil's resilient portfolio should continue
benefiting from the relatively strong demand while Covid-19
pandemic is still in place," Credit Suisse wrote.
Online food sales under the flagship Carrefour brand rose
377%, achieving three-year growth in just one quarter, Chief
Financial Officer Sébastien Durchon said, noting that
brick-and-mortar sales were not cannibalized.
Prioux said Carrefour Brasil expects to roll out a more
agile e-commerce platform in the second half of 2020.
The company's wholesale unit Atacadao also launched its own
marketplace to corporate customers and will soon expand online
sales through the web-based app Cornershop beyond Sao Paulo,
Atacadao CEO Roberto Müssnich added.
($1 = 5.1666 reais)
(Reporting by Gabriela Mello
Editing by Chris Reese and Richard Chang)