Brazil Retailer GPA Jumps Most in 6 Years After Matching Rival
- French-controller chain grows through wholesale business
- As Carrefour operations thrived, Casino lagged -- until now
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French retail giants Carrefour SA and Casino Guichard-Perrachon SA have spent years battling for dominance on their home turf. Their new big battleground is almost 10,000 kilometers away.
Brazil, Latin America’s largest economy, has become a key factor in propping up Carrefour’s earnings in recent years amid disappointing growth in France. The grocer’s quarterly same-store revenue in Brazil has climbed between 5.6 percent and 13 percent since the third quarter of 2013, a stellar showing in a nation muddling through a two-year recession that’s the worst on record.