Pão de Açúcar plans to invest US$ 568 mi in 2008
Folha de S. Paulo - 01/15/2008
The Pão de Açúcar Group announced investments of R$ 1 billion (US$ 568.2 million) in 2008 yesterday. The amount will be invested in the opening of 105 stores in the areas of infrastructure, technology and logistics. According to the company, the expectation is to generate 20 thousand jobs - 8,000 direct ones. For 2008, the company projects gross sales above R$ 20 billion (US$ 11,4 billion), with growth of the already existing stores above the inflation - the government's expectation is 4.5% for the IPCA - and a two-digit evolution in the non-food area. From the total of stores to be opened this year, 80 will have the Extra Fácil brand (convenience), 14 units of the Assai ("cash and carry"), an Extra, and the other stores in the supermarket format, with six Pão de Açúcar units, three Comprebem/Sendas units, and one Extra Perto unit, totaling 669 stores. In 2007, the Pão de Açúcar Group invested R$ 1.2 billion (US$ 681.8 million) and closed the year with 564 stores, including the opening of 38 units between super- and hypermarkets, besides convenience stores and "atacarejo" (Wholeretail), which cater to the wholesale market, to distributors and also to retail. Last year, the company bought 60% of the Assai chain and also incorporated five Rossi Monza points-of-sale, later converted into the Extra Perto (four stores) and CompreBem (one store) brands.