FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of October, 2002
Brazilian Distribution Company
------------------------------
(Translation of Registrant's Name Into English)
Av. Brigadeiro Luiz Antonio,
3126 Sao Paulo, SP 01402-901
Brazil
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(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
---
(Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
--- ---
[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 1 of 13
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CBD announced third quarter 2002 results
Sao Paulo, Brazil, October 29th, 2002 - Companhia Brasileira de Distribuicao
(CBD) - (BOVESPA: PCAR4; NYSE: CBD), today announced 3rd quarter 2002 results.
The Company's operating and financial results, unless otherwise indicated, are
presented based on consolidated figures and in Reais, in accordance with the
Corporate Law method, and the comparisons refer to the third quarter of 2001.
o Net sales grew 25.3% in the 3rd quarter, accumulating a growth of 14.6% in
the first 9 months;
o Same stores sales grew 5.2% in the quarter;
o Record gross margin of 29.0% in the quarter, accumulating 28.5% in the
first 9 months;
o EBITDA margin, excluding non recurring expenses, was 8.7% in the quarter,
accumulating 8.4% in the first 9 months of 2002;
o Net income of R$ 36.2 million in the quarter or of R$ 63.7 million
excluding the non-recurring extraordinary expenses originated in the
acquisition of the Se Supermercados chain;
o Gains in the working capital management: inventory turnover of 37.5 days
and average payment terms with suppliers of 42.7 days, against 39.6 and
38.0 days, respectively, in the same period of 2001;
o Anticipation of some investments scheduled for 2003
[PAO DE ACUCAR LOGO] [BARATEIRO LOGO] [EXTRA HIPERMERCASOS LOGO] [ELETRO LOGO]
COMPANHIA BRASILEIRA DE DISTRIBUICAO (CBD) operates 499 stores in 12 Brazilian
states. CBD works with four formats: supermarkets (divisions Pao de Acucar and
Barateiro), hypermarkets (Extra) and electronic products/home appliances stores
(Eletro). CBD also operates stores under the flags Se and Comprebem.
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 2 of 13
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Comments on Sales Performance
Gross sales In the 3rd quarter of 2002, gross sales of
reached R$ 2.7 Companhia Brasileira de Distribuicao totaled
billion in the 3rd R$ 2,724.2 million and net sales R$ 2,307.5
quarter million, representing a growth of,
respectively, 25.1% and 25.3% in comparison
to the same period of last year.
In the first 9 months of the year, the
Company registered gross sales of R$ 7,749.9
million and net sales of R$ 6,564.7 million,
representing growth rates of 14.3% and 14.6%,
respectively.
Annualizing the sales of the stores acquired
from the chains Se Supermercados and
Comprebem, i.e., considering these stores'
sales since the beginning of the year, the
growth rates would have been 21.9% for the
gross sales and 22.1% for the net sales in
the first nine months of 2002.
Same stores sales Even with the turmoil verified in the
grew 5.2% political and economic scenario and the
resulting downturn in the consumers'
confidence level, CBD registered a same store
sales growth of 5.2% in the 3rd quarter,
accumulating 2.2% in the year.
In the quarter, same stores sales of food
products increased 4.7%, while non-food
products registered an increase of 8.0%. In
the year, these accumulated performances were
of 3.0% and -0.3%, respectively.
All the Divisions presented positive
performance in the quarter and we highlight
the two-digit growth registered by the
Barateiro Division, the excellent performance
of the Extra hypermarkets and the success of
the anniversary of the Pao de Acucar Division
in August.
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 3 of 13
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Net Sales Evolution per Division - Consolidated*
Variation 2002/2001 (%)
Same stores Total stores
--------------- ----------------
Jun/01 -2.5% 4.0%
Jul/01 -9.9% -6.7%
Aug/01 -5.8% -4.8%
Sep/01 -4.9% -3.0%
Oct/01 -6.6% -3.6%
Nov/01 -3.5% 2.8%
Dec/01 -2.8% 4.1%
Jan/02 -1.4% 5.9%
Feb/02 -2.8% 4.8%
Mar/02 7.1% 15.7%
Apr/02 -7.8% 1.5%
May/02 7.2% 17.3%
Jun/02 3.3% 12.8%
Jul/02 5.3% 24.8%
Aug/02 7.7% 28.6%
Sep/02 2.6*% 22.6%
* Same stores sales figures include only stores which have been operating for at
least 12 months.
Note: If deflated by IPCA, all store sales registered a performance of 16.4%
(25.3% in nominal terms) and same stores sales registered a performance of -2.2%
(5.2% in nominal terms) in the 3rd quarter of 2002.
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 4 of 13
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Comments on the Results
Gross margin CBD's gross profit increased 26.7% in the
of 29.0% in the quarter, reaching R$ 668.9 million, which
quarter represented a gross margin of 29.0%, above
the 28.7% registered in the same period of
the previous year. In the first nine months
of 2002, the gross profit increased 17.2%,
reaching the amount of R$ 1,868.7 million and
a margin of 28.5% (27.8% in the same period
of 2001).
This margin increase was due to efficiency
gains, from which we can highlight the
shrinkage reduction, from 1.6% to 1.3%; to an
improvement in category management; and to
better negotiations with our suppliers,
reflecting scale gains obtained in the last
few years and the restructuring of CBD's
commercial area in 2001.
In the quarter, the operating expenses
increased 25.9%, totaling R$ 477.5 million or
20.7% of the net sales (20.6% in the 3rd
quarter of 2001). In the first 9 months, the
operating expenses added R$ 1,328.0 million,
equivalent to 20.2% of the net sales in the
period.
Non-recurring We note that the third quarter was marked by
expenses of R$ 8.7 the integration of the Se Supermercados chain
million (acquired on June 30, 2002), which generated
extraordinary expenses in the amount of R$
8.7 million. These non-recurring items arose
mainly from the recognition of pre-operating
expenses previously deferred by Se, severance
payments and from the termination of
technology and consulting contracts of the
acquired chain.
If we exclude the extraordinary expenses, the
total operating expenses grew 23.6% in the
quarter and 15.1% in the first nine months,
respectively 20.3% and 20.1% of the net
sales.
EBITDA margin, The third quarter EBITDA amounted to R$ 191.4
without million, representing a growth of 28.7% and a
extraordinary 8.3% margin. In the first 9 months, the
expenses, reached EBITDA reached R$ 540.7 million, which
8.7% represented a growth of 20.4% and a 8.2%
margin. If we do not consider the
non-recurring expenses with Se, CBD's EBITDA
registered a growth of 34.5% in the quarter
and 20.5% in the first nine months, with
margins of 8.7% and 8.4%, respectively.
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 5 of 13
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In the third quarter of the year, the
financial income amounted to R$ 132.4
million, growing 26.6%, mainly due to a cash
position, superior to that of the same period
of 2001. The financial expenses of the
quarter totaled R$ 170.4 million, above the
CBD does not have R$ 113.1 million registered in the 3rd
exposure to quarter of 2001, due to the increase in the
currency variations cost of short-term loan funding, assumption
of debts of Se at the end of the 2nd quarter
to the amount of R$ 124.4 million, as well as
to non-recurring expenses of R$ 18.8 million
which originated from the Se's financial
cleansing.
It is worth mentioning that CBD does not have
exposure to the effects of the currency
variations, as since 1999 the Company has had
a rule of adopting swap mechanisms for CDI
(Interbank rate) in its debt in foreign
currency. The expense with currency
variation, of R$ 4.5 million in the quarter
and of R$ 13.4 million in the first nine
months, refers to the amortization of part of
the currency loss deferred in the 1st quarter
of 1999.
The financial result was negative in R$ 42.5
million in the quarter and in R$ 60.2 million
in the 9 months, against, respectively, R$
13.0 million and R$ 30.3 million in the same
periods of 2001.
Net Income of R$ 142.6 The net income of the quarter was R$ 36.2
million in the million, 13.5% below the result calculated
year (accumulated) for the same period of 2001. Excluding the
extraordinary expenses with Se, CBD's net
profit was of R$ 63.7 million, representing a
growth of 52.2% compared to the 3rd quarter
of 2001.
In the first 9 months, CBD's net income
reached R$ 142.6 million (R$ 135 million in
the same period of 2001), or R$ 170.1 million
excluding the extraordinary items (growth of
26.0% over the first nine months of 2001).
Improvements in Again, CBD presented improvements in the
the working capital management of the working capital, reflecting
management the ripening of the investments made in the
distribution's centralization and the
positive effects of the organizational
restructuring which occurred in the Company
in 2001, through which the Commercial Area
focused more on the negotiations with
suppliers and with CBD's Business Units being
responsible by the category management.
Inventory turnover of the quarter was 37.5
days and average payment terms with suppliers
reached 42.7 days, against 39.6 and 38.0
days, respectively, in the same period of
2001.
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 6 of 13
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The investments In the 3rd quarter of 2002, the investments
totaled made by CBD, excluding acquisitions, totaled
R$ 158.3 million in R$ 158.3 million, against R$ 138.9 million
the 3rd quarter in the same period of 2001. In the first nine
months of 2002, the investments accumulated
R$ 467.1 million (R$ 369.3 million in the
same period of 2001). It is worth mentioning
that the Company anticipated some investments
scheduled for 2003, directed mainly to store
remodeling, technology, acquisition of land
and distribution.
The main highlights of the quarter were:
(i) the opening of 2 new Extra stores (1 in
Brasilia and the other in Goiania) and
1 Pao de Acucar store in Curitiba;
(ii) the construction of 2 hypermarkets
Extra (Jaguare and Freguesia do O) that
are due be opened in the beginning of
December and of 7 supermarkets (6
Barateiro and 1 Pao de Acucar);
(iii) the remodeling of 13 stores of the Pao
de Acucar Division (including the full
reconstruction of the first Pao de
Acucar store, in Sao Paulo, reopened on
October 15); 18 Barateiro stores and 4
Extra stores;
(iv) integration and refurbishment of the
stores acquired from Se chain and of
the stores reintegrated from Comprebem
chain;
(v) the acquisition of strategic plots of
land;
(vi) the opening of a new distribution
center in Recife;
(vii) Investments in information technology,
database and software.
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 7 of 13
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Extension of the Debt Profile - Issue of Non-Convertible Debentures
The Companhia Brasileira de Distribuicao informs its investors, shareholders and
to the general public that, in the Special Shareholder's Meeting of the Company,
that occurred on October 4, 2002, it was decided to carry out the 5th issue of
debentures of the Company, in the amount of up to R$ 600.0 million and with an
undetermined number of series.
The 1st series of the 5th Issue will be comprised off up to 50,000 debentures,
non-convertible to shares of the Company, without guarantees or preferences,
with nominal amount of R$ 10.0 thousand and duration of 60 months from the issue
date onwards, October 1, 2002. The remuneration will be made based on the
average rate of the Interbank Deposits (DI) of one day, "over extra group",
expressed in the form percentage per year, basis 252 days, calculated and
published by the Central de Custodia and Liquidacao Financeira de Titulos -
CETIP [Clearing House for the Custody and Financial Settlement of Securities],
plus spread of 1.45% per year, basis 252 days. The Debentures of the 1st Series
will be priced again in the 24th month after the Issue Date.
The Debentures of the 1st Series will be publicly distributed and the payment
for the subscription in the debentures will be in cash, in domestic currency,
paid at the subscription, by its nominal unitary amount plus the due
remuneration, calculated pro rata temporis from the Issue Date until the date of
its effective payment.
The funds obtained by means of the 5th Issue of Debentures will be used to
replace the credit lines, extending the debt profile of the Company, not
representing additional indebtedness.
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 8 of 13
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Stores by Division
-------------------------------------------------------------------------- -----------------------
Pao de Se and Sales area N. of
Acucar Extra Eletro Barateiro Comprebem* CBD (m2) Employees
------------------------------------------------------------------------------------- -----------------------
03/31/01 185 53 64 111 413 811,696 49,350
Open 1 - - 3 4
Closed (2) - - (2)
Converted - - - - -
06/30/01 184 53 64 114 415 808,161 48,035
Open 1 1 1 2 5
Closed (2) - (3) (2) (7)
Converted (2) (1) - 2 (1)
09/30/01 181 53 62 116 412 813,246 46,642
Open 2 2 - 26 30
Closed - - - - -
Converted (8)+1 - - 8 1
12/31/01 176 55 62 150 443 866,280 52,060
Open - - - 1 1
Closed - - (4) (2) (6)
Converted - - - - -
03/31/02 176 55 58 149 438 858,515 51,128
Open 2 1 - - 3
Closed (2) (1) - (5) (8)
Converted - - - - -
06/30/02 176 55 58 144 - 433 859,939 51,794
Open 1 2 - - 72 75
Closed (1) - - (3) (5) (9)
Converted - - - - - -
------------------------------------------------------------------------------------ -----------------------
09/30/02 176 57 58 141 67 499 967,472 57,026
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* During the quarter, the Company closed 4 stores acquired from Se chain and 1
store reintegrated from Comprebem chain
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 9 of 13
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CONSOLIDATED INCOME STATEMENT - CORPORATE LAW METHOD
-----------------------------------------------------------------------------------------------------------------------------------
3rd Quarter Accumulated 9 months
----------------------------------------- ------------------------------------------------------
Thousand R$ 2002 2001 % 2002 2001 %
-----------------------------------------------------------------------------------------------------------------------------------
Net Sales Revenue 2,307,477 1,842,053 25.3% 6,564,677 5,727,509 14.6%
Cost of Goods Sold (1,638,531) (1,314,014) 24.7% (4,695,977) (4,132,475) 13.6%
Gross Profit 668,946 528,039 26.7% 1,868,700 1,595,034 17.2%
Operating Expenses (Income)
Selling Expenses (383,459) (311,379) 23.1% (1,070,394) (926,886) 15.5%
General and Administrative (94,041) (67,904) 38.5% (257,653) (219,258) 17.5%
Total Operating Expenses (477,500) (379,283) 25.9% (1,328,047) (1,146,144) 15.9%
Earnings before interest,
taxes, depreciation and
amortization - EBITDA 191,446 148,756 28.7% 540,653 448,890 20.4%
Adjusted EBITDA* 200,146 148,756 34.5% 549,353 455,929 20.5%
Depreciation (63,146) (54,035) 16.9% (188,819) (159,097) 18.7%
Amortization of the
Deferred Assets (38,144) (33,690) 13.2% (94,774) (76,825) 23.4%
Earnings before interest
and taxes - EBIT 90,156 61,031 47.7% 257,060 212,968 20.7%
Taxes and Charges (16,609) (11,452) 45.0% (43,267) (35,229) 22.8%
Financial Income 132,371 104,578 26.6% 381,647 308,875 23.6%
Financial Expenses (170,390) (113,125) 50.6% (428,437) (325,707) 31.5%
Currency Variation (4,477) (4,477) 0.0% (13,431) (13,431) 0.0%
Net Financial Income (Loss) (42,496) (13,024) 226.3% (60,221) (30,263) 99.0%
---------------------------
Equity Income (5,539) 5,525 (5,266) 5,525
Operating Results 25,512 42,080 -39.4% 148,306 153,001 -3.1%
Non-Operating Results 1,031 658 56.7% 2,586 1,948 32.8%
Income Before Income Tax 26,543 42,738 -37.9% 150,892 154,949 -2.6%
Income Tax 9,686 (841) (8,243) (19,862) -58.5%
-----------------------------------------------------------------------------------------------------------------------------------
Net Income 36,229 41,897 -13.5% 142,649 135,087 5.6%
Net Income (Loss) per
1,000 shares 0.32 0.37!Zero -13.5% 1.26 1.20 5.0%
Divide
N. of shares at the end of the
period (in thousand) 113,064,539 112,496,409 0.5% 113,064,539 112,496,409 0.5%
-----------------------------------------------------------------------------------------------------------------------------------
% of Net Sales
Gross Profit 29.0% 28.7% 28.5% 27.8%
Total Operating Expenses -20.7% -20.6% -20.2% -20.0%
Selling Expenses -16.6% -16.9% -16.3% -16.2%
General and Administrative -4.1% -3.7% -3.9% -3.8%
EBITDA 8.3% 8.1% 8.2% 7.8%
Adjusted EBITDA* 8.7% 8.1% 8.4% 8.0%
Depreciation -2.7% -2.9% -2.9% -2.8%
Amortization of the Deferred Assets -1.7% -1.9% -1.4% -1.3%
EBIT 3.9% 3.3% 3.9% 3.7%
Taxes and Charges -0.7% -0.6% -0.7% -0.6%
Net Financial Income (Expense) -1.8% -0.7% -0.9% -0.5%
Income Before Income Tax 1.2% 2.3% 2.3% 2.7%
Income Tax 0.4% 0.0% -0.1% -0.3%
Net Income (Loss) 1.6% 2.3% 2.2% 2.4%
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*Not considering R$ 8.7 million of extraordinary expenses with the acquisition of Se chain.
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 10 of 13
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CONSOLIDATED BALANCE SHEET - CORPORATE LAW METHOD
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Thousand R$ 3rd Quarter/02 2nd Quarter/02 3rd Quarter/01
----------------------------------------------------------------------------------------------------------------
ASSETS
Current Assets 3,152,361 3,422,175 2,224,171
Cash and Banks 68,570 91,661 74,713
Short-Term Investments 1,055,682 1,318,102 507,086
Credit 1,035,417 1,057,737 808,162
Installment Sales 237,544 267,883 336,447
Post-Dated Checks 98,450 100,352 89,569
Credit Cards 545,993 558,618 342,157
Tickets and others 181,811 164,777 86,532
Allowance for Doubtful Accounts (28,381) (33,893) (46,543)
Inventories 705,720 666,345 587,520
Advances to suppliers and employees 8,886 9,310 72,438
Taxes recoverable 166,645 128,886 85,507
Others 111,441 150,134 88,745
Long-Term Receivables 498,362 467,774 322,137
Deferred Income Tax 125,655 120,294 71,186
Accounts Receivable 270,525 251,473 168,428
Other Credits 102,182 96,007 82,523
Permanent Assets 4,658,723 4,515,252 3,791,923
Investments 374,061 262,163 113,563
Properties and Equipment 3,534,270 3,466,518 2,861,885
Deferred Charges 750,392 786,571 816,475
Goodwill 630,663 648,845 632,314
Currency Variation 8,957 13,434 26,867
Pre-operating expenses 110,772 124,292 157,294
TOTAL ASSETS 8,309,446 8,405,201 6,338,231
LIABILITIES
Current Liabilities 2,801,451 2,936,397 1,800,110
Suppliers 773,910 711,009 551,108
Financing* 1,792,426 1,715,048 1,032,658
Payable on Purchase of Assets 5,970 260,969 50,635
Debentures 16,606 24,466 1,486
Taxes 51,451 62,211 19,525
Salaries and Payroll
Charges 118,364 111,484 96,379
Dividends -- -- --
Interest on own capital -- -- 18,149
Others 42,724 51,210 30,170
Long-Term Liabilities 1,961,398 1,958,436 1,197,328
Financing* 956,624 1,020,737 521,317
Payable on Purchase of Assets 15,122 13,505 29,899
Debentures 110,636 122,668 130,550
Income Tax and Taxes in Installments 13,208 14,721 1,331
Provision for Income Tax 60,908 78,950 --
Provision for Contingencies 804,900 707,855 514,231
Shareholder's Equity 3,546,597 3,510,368 3,340,793
Capital 2,747,364 2,747,364 2,244,136
Capital Reserves 344,242 344,242 348,292
Profit Reserves 454,991 418,762 748,365
TOTAL LIABILITIES 8,309,446 8,405,201 6,338,231
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*CBD does not have exposure to the effects of the currency variations as since 1999 it has adopted swap
mechanisms for CDI (Interbank rate) in its debt in foreign currency.
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 11 of 13
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Net Sales Breakdown per Division - Consolidated
In thousand R$ - nominal (Corporate Law)
--------------------------------------------------------------------- -------------
1st QUARTER 2002 % 2001 % Var.(%)
---------------------------------------------------------------------------------------------- -------------
Pao de Acucar 692,806 32.2% 655,849 33.2% 06%
Extra 1,000,951 46.6% 966,519 49.0% 04%
Barateiro 375,307 17.5% 245,332 12.4% 53%
Eletro 80,620 3.7% 105,362 5.4% -23%
---------------------------------------------------------------------------------------------- -------------
CBD 2,149,684 100.0% 1,973,062 100.0% 09%
---------------------------------------------------------------------------------------------- -------------
2nd QUARTER 2002 % 2001 % Var.(%)
---------------------------------------------------------------------------------------------- -------------
Pao de Acucar 656,954 31.2% 647,247 33.8% 1.5%
Extra 1,028,292 48.8% 932,552 48.8% 10.3%
Barateiro 341,843 16.2% 243,146 12.7% 40.6%
Eletro 80,427 3.8% 89,449 4.7% -10.1%
---------------------------------------------------------------------------------------------- -------------
CBD 2,107,516 100.0% 1,912,394 100.0% 10.2%
---------------------------------------------------------------------------------------------- -------------
3rd QUARTER 2002 % 2001 % Var.(%)
---------------------------------------------------------------------------------------------- -------------
Pao de Acucar 671,028 29.1% 634,101 34.4% 5.8%
Extra 1,010,198 43.8% 888,040 48.2% 13.8%
Barateiro 359,596 15.6% 239,628 13.0% 50.1%
Eletro 78,588 3.4% 80,284 4.4% -2.1%
Se + Comprebem 188,067 8.1%
---------------------------------------------------------------------------------------------- -------------
CBD 2,307,477 100.0% 1,842,053 100.0% 25.3%
---------------------------------------------------------------------------------------------- -------------
ACCUMULATED 9 MONTHS 2002 % 2001 % Var.(%)
---------------------------------------------------------------------------------------------- -------------
Pao de Acucar 2,020,788 30.7% 1,937,197 33.8% 4.3%
Extra 3,039,441 46.3% 2,787,111 48.7% 9.1%
Barateiro 1,076,746 16.4% 728,106 12.7% 47.9%
Eletro 239,635 3.7% 275,095 4.8% -12.9%
Se + Comprebem 188,067 2.9%
---------------------------------------------------------------------------------------------- -------------
CBD 6,564,677 100.0% 5,727,509 100.0% 14.6%
---------------------------------------------------------------------------------------------- -------------
Data per Division on September 30, 2002
---------------------------------------------------------------------
# # # Sales area (m2)
Checkouts Employees Stores
---------------------------------------------------------------------
Pao de Acucar 2,216 14,593 176 220,103
Extra 2,887 18,774 57 438,092
Barateiro 1,527 7,462 141 166,574
Eletro 179 777 58 39,000
Se + Comprebem 956 5,538 67 103,703
----------------------------------------------------------------------------------------------------
Total Stores 7,765 47,144 499 967,472
----------------------------------------------------------------------------------------------------
Headquarters 3,100
----------------------------------------------------------------------------------------------------
Loss prevention (security) 3,378
----------------------------------------------------------------------------------------------------
Distribution Centers 3,404
----------------------------------------------------------------------------------------------------
CBD 7,765 57,026 499 967,472
----------------------------------------------------------------------------------------------------
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[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 12 of 13
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Productivity Indexes*
In R$- nominal (Corporate Law)
Sales per m2/month
----------------------------------------- ---------------------------------------
3Q/02 3Q/01 Var (%) 9M/02 9M/01 Var (%)
---------------------------------------------------------------------------- ---------------------------------------
Pao de Acucar 1,025 970 5.7% 1,028 966 6.4%
Extra 782 730 7.1% 792 760 4.2%
Barateiro 720 614 17.3% 696 624 11.5%
Eletro 672 648 3.7% 679 745 -8.9%
---------------------------------------------------------------------------- ---------------------------------------
CBD 827 772 7.1% 804 794 1.3%
---------------------------------------------------------------------------- ---------------------------------------
Sales per Employee/month
----------------------------------------- ---------------------------------------
3Q/02 3Q/01 Var (%) 9M/02 9M/01 Var (%)
---------------------------------------------------------------------------- ---------------------------------------
Pao de Acucar 15,560 14,924 4.3% 15,497 14,985 3.4%
Extra 17,749 16,790 5.7% 18,521 17,380 6.6%
Barateiro 15,781 14,914 5.8% 14,900 15,034 -0.9%
Eletro 23,454 20,095 16.7% 22,935 21,662 5.9%
---------------------------------------------------------------------------- ---------------------------------------
CBD 16,798 15,955 5.3% 16,891 16,327 3.5%
---------------------------------------------------------------------------- ---------------------------------------
Average Ticket
----------------------------------------- ---------------------------------------
3Q/02 3Q/01 Var (%) 9M/02 9M/01 Var (%)
---------------------------------------------------------------------------- ---------------------------------------
Pao de Acucar 17.8 16.9 5.3% 18.1 17.0 6.5%
Extra 35.5 34.4 3.2% 36.0 35.2 2.3%
Barateiro 13.2 11.3 16.8% 13.3 11.4 16.7%
Eletro 275.9 249.1 10.8% 273.3 235.0 16.3%
---------------------------------------------------------------------------- ---------------------------------------
CBD 22.6 21.7 4.1% 23.0 22.2 3.6%
---------------------------------------------------------------------------- ---------------------------------------
Sales per Checkout/month
----------------------------------------- ---------------------------------------
3Q/02 3Q/01 Var (%) 9M/02 9M/01 Var (%)
---------------------------------------------------------------------------- ---------------------------------------
Pao de Acucar 101,722 94,286 7.9% 101,855 92,472 10.1%
Extra 118,385 110,312 7.3% 119,651 113,150 5.7%
Barateiro 78,182 62,079 25.9% 74,543 63,055 18.2%
Eletro 146,347 140,637 4.1% 147,894 175,671 -15.8%
---------------------------------------------------------------------------- ---------------------------------------
CBD 104,579 95,903 9.0% 100,298 97,524 2.8%
---------------------------------------------------------------------------- ---------------------------------------
* Results referring to sales area space, employees and checkouts were calculated based on average values proportional to
the period in which the stores were open.
Observation: The productivity indexes does not include the Se and Comprebem chains.
Sales Breakdown (% of net sales)
---------------------------------------------------------- ---------------------------------
2001 2002
---------------------------------------------------------- ---------------------------------
1Q 2Q 3Q 4Q Accum. 1Q 2Q 3Q
---------------------------------------------------------------------------------- ---------------------------------
Cash 53.7% 53.5% 53.8% 53.4% 53.6% 53.5% 52.2% 53.8%
Credit Card 28.0% 28.7% 29.2% 30.4% 29.1% 31.1% 32.9% 31.6%
Food Voucher 6.1% 6.2% 6.4% 6.4% 6.3% 6.8% 6.6% 6.4%
Credit 12.2% 11.6% 10.6% 9.8% 11.0% 8.6% 8.3% 8.2%
Post-Dated Checks 6.3% 6.7% 6.3% 5.6% 6.2% 5.2% 4.9% 5.1%
Installment Sales 5.9% 4.9% 4.3% 4.2% 4.8% 3.4% 3.4% 3.1%
---------------------------------------------------------------------------------- ---------------------------------
--------------------------------------------------------------------------------
[GRUPO LOGO] Results of the 3rd quarter, 2002
Page 13 of 13
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CONVERTIBLE DEBENTURES
Conversion of Debentures into Preferred Shares
------------------------------------------------------------------------------------
Common Shares Preferred Shares Total of Shares
(thousand) (thousand) (thousand)
------------------------------------------------------------------------------------
12/31/2000 62,858,755 44,513,279 107,372,034
------------------------------------------------------------------------------------
2nd issue 2,000
03/31/2001 62,858,755 44,515,279 107,374,034
------------------------------------------------------------------------------------
2nd issue 4,171,492
4th issue 1,179
Capital Increase 612,056 310,993
06/30/2001 63,470,811 48,998,943 112,469,755
------------------------------------------------------------------------------------
09/30/2001 63,470,811 48,998,943 112,469,755
------------------------------------------------------------------------------------
Capital Increase 591,385*
12/31/2001 63,470,811 49,590,328 113,061,139
------------------------------------------------------------------------------------
03/31/2002 63,470,811 49,590,328 113,061,139
------------------------------------------------------------------------------------
Capital Increase 3,400*
06/30/2002 63,470,811 49,593,728 113,064,539
------------------------------------------------------------------------------------
09/30/2002 63,470,811 49,593,728 113,064,539
------------------------------------------------------------------------------------
*stock option plan
------------------------------------------------------------------------------------------
COMPANHIA BRASILEIRA DE DISTRIBUICAO | THOMSON FINANCIAL INVESTOR RELATIONS
|
Fernando Tracanella | Doris Pompeu
Investor Relations Manager | Tel: 55 (11) 3848 0887 ext. 208 Email:
Daniela Sabbag | doris.pompeu@thomsonir.com.br
Financial Analyst |
Tel: 55 (11) 3886 0421 Fax: 55 (11) 3884 2677 |
Email: pa.relmerc@paodeacucar.com.br |
------------------------------------------------------------------------------------------
Website: http://www.grupopaodeacucar.com.br
--------------------------------------------------------------------------------
The statements contained in this release referring to the perspective for the
Company's businesses, to projections of operating and financial results, and to
the Company's growth potential, are mere predictions and were based on
Management's expectations in relation to the Company's future. These
expectations are highly dependent on market changes, on Brazil's general
economic performance, on industry and on the international markets and are,
therefore, subject to change.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
COMPANHIA BRASILEIRA DE DISTRIBUICAO
Date: October 29, 2002 By: /s/ Augusto Marques da Cruz Filho
---------------------------------------
Name: Augusto Marques da Cruz Filho
Title: Chief Financial Officer
By: /s/ Aymar Giglio Junior
---------------------------------------
Name: Aymar Giglio Junior
Title: Investor Relations Officer