Carrefour’s Atacadão to hit R$100bn in sales
The cash-and-carry chain Atacadão, owned by the Carrefour Group, has a plan to reach R$100 billion in gross sales in three years, anchored in an acceleration in sales volume, despite the current scenario showing a loss of steam in this segment.According to the new CEO, Marco Oliveira, inflation in the segment remains resilient, and customers have been buying in smaller quantities - even in cash-and-carry stores, which already operates with prices 10% to 15% below retail.There is, however, an expectation of a drop in this pace of price pass-through after 2022. Besides, the opening of new stores, digital expansion and integration of acquisitions should lead the company to hit R$100billion.In March, Carrefour announced, for R$7.5 billion, the purchase of Big, owner of Maxxi Atacado, and of more than 107 hypermarkets. Part of the Big's points will turn into Atacadão. The Maxxi flag must also migrate."We should reach R$60 billion in sales this year, which may place Atacadão (Carrefour excluded) in the eighth or ninth position in the ranking of the country’s largest companies," Mr. Oliveira says. "Being conservative, we may reach R$100 billion in three years, because, of all the variables related to growth, the only one that I cannot control is the volume of Big’s [supermakets] units that will become Atacadão".On the market, banks project a high of 10% in the annual revenue of the Carrefour group until 2025, with the cash and carry up double, and reaching around R$105 million in 2024.According to Mr. Oliveira, if the Carrefour group is more aggressive in hypermarket conversions, it is possible to reach R$100 billion in two years. "I work with an annual inflation expectation of 4%, and we expect a slowdown from the current level next year. But, in case it still remains high, we will reach it before that." Maxxi accounted for 27% of Big’s net sales in 2020 (about R$6 billion), and stores are concentrated in the South and in the Northeast regions, where the Atacadão brand is weaker. Less than 10% of Maxxi’s stores are in São Paulo.Atacadão grew almost 19% in gross sales from January to June, even with the strong comparison base of 2020 - the retail arm shrank 0.7%. Operating profit advanced 5%, versus an 8% drop in retail.Mr. Oliveira avoids predictions about the conversions of stores because it is still necessary to analyze information from the acquired company, kept separate until the final evaluation of the case by Cade, the antitrust watchdog.He...
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