Net sales

Assaí sees profits increase by 76% in the fourth quarter and opens 21 new stores

Brazilian cash-and-carry brand Assai Atacadista recorded a net profit of 527 million reais (90.5 million euros) in the fourth quarter of 2021, up 76% year-on-year.

Net sales for the quarter increased by 8.1%, to 11.55 billion reais (2 billion euros), while same-store sales fell by 3.1% in the period, impacted by solid comparative factors (+19.4% in the fourth quarter of 2020).

For the year 2021, net turnover reached 41.9 billion reais (+16.5%), while net profit amounted to 1.61 billion reais (+60.5%) ), the company noted.

The total sales area reached 964,000 square meters at the end of December (+19%), with 212 stores in operation.

During the year, 28 new stores were opened, including 21 opened in the last quarter, double the opening rate for the corresponding period in 2020.

The 23 former Extra hypermarkets converted to Assaí stores performed strongly, the company noted, with average sales increasing approximately after the conversion.

Expansion strategy

The expansion plan for 2022 foresees the opening of approximately 50 stores, including ten organic stores scheduled to open in the first half of the year under construction.

The first wave of Extra Hiper conversions (approximately 40 stores) will be under construction by the end of the first quarter of 2022 and are expected to open in the second half of 2022.

The progress of the organic expansion plan and the conversions of Extra Hiper stores will increase, reaching more than 300 stores and a turnover of R$100 billion in 2024.

Rappi delivery platform

Assaí Atacadista, controlled by French retail group Casino, recently announced a partnership to sell its products through the delivery app Rappi.

A pilot was launched this month in six stores in São Paulo.

This move is part of a digitalization process initiated in 2021, after a separation from GPA, with priority given to third-party delivery platforms.

© 2022 European supermarket magazine – your source for the latest retail news. Article by Branislav Pekic. Click on subscribe register for ESM: European Supermarket Magazine.