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Brazil's GPA says retail-to-wholesale conversions beating forecasts
April 28, 2017 / 3:15 PM / 7 months ago

Brazil's GPA says retail-to-wholesale conversions beating forecasts

SAO PAULO, April 28 (Reuters) - GPA SA, Brazil’s biggest retailer, has seen better-than-expected results from turning its Extra hypermarkets into Assai cash-and-carry stores and is accelerating investments in those conversions, its chief executive said on Friday.

“We’ve said we aimed to do 15 of those conversions this year, but we really want to do as many as possible over the course of 2017,” CEO Ronaldo Iabrudi told analyst on a call to discuss first-quarter earnings. (Reporting by Brad Haynes)

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