The following is a summary of the Companhia Brasileira De Distribuicao. (CBDBY) Q1 2024 Earnings Call Transcript:
Financial Performance:
Companhia Brasileira De Distribuicao reported an increase in adjusted EBITDA margin of 8.1%, the highest in over two years.
They achieved an operating cash generation of R$ 428 million over the last 12 months, an increase of R$ 736 million compared to Q1 of 2023.
Net revenue for all stores rose by 8.2% in the quarter, with significant growth in the Pão de Açúcar, Proximity stores, and eCommerce sectors.
The company significantly reduced its net debt.
Business Progress:
Companhia Brasileira De Distribuicao opened 9 new stores in Q1 of 2024, mainly in the Proximity format.
The company aims to accelerate eCommerce growth, which grew by 25.1% in the quarter.
They continued the phased implementation of their expansion plan, involving opening new stores and increasing the reach of perishable goods in the 1P channel.
The company is investing heavily in improving its technology infrastructure and store remodeling to enhance customer experience.
They are also focused on expanding and upgrading their premium brands, Pão de Açúcar and Minuto Pão de Açúcar.
The ongoing sale of their gas stations, along with other non-core resources, is expected to help reduce leverage further.
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