Report of Foreign Private Issuer

Transcription

1 6 K 1 cbd _6k.htm FORM 6 K FORM 6 K SECURITIES AND EXCHANGE COMMISSION Washingtn, D.C Reprt f Freign Private Issuer Pursuant t Rule 13a 16 r 15d 16 f the Securities Exchange Act f 1934 Fr the mnth f January, 2017 Brazilian Distributin Cmpany (Translatin f Registrant s Name Int English) Av. Brigadeir Luiz Antni, 3142 Sã Paul, SP Brazil (Address f Principal Executive Offices) (Indicate by check mark whether the registrant files r will file annual reprts under cver f Frm 20 F r Frm 40 F) Frm 20 F X Frm 40 F (Indicate by check mark if the registrant is submitting the Frm 6 K in paper as permitted by Regulatin S T Rule 101 (b) (1)): Yes N X (Indicate by check mark if the registrant is submitting the Frm 6 K in paper as permitted by Regulatin S T Rule 101 (b) (7)): Yes N X (Indicate by check mark whether the registrant by furnishing the infrmatin cntained in this Frm is als thereby furnishing the infrmatin t the Cmmissin pursuant t Rule 12g3 2(b) under the Securities Exchange Act f 1934.) Yes N X 1/8

2 Sã Paul, Brazil, January 13, 2017 GPA [BM&FBOVESPA: PCAR4; NYSE: CBD] and Via Varej S.A. [BM&FBOVESPA:VVAR3 and VVAR11] annunce their sales perfrmance fr furth quarter and fiscal year All cmparisns are with the same perid in 2015, except where stated therwise. In the financial statements f GPA as f December 31, 2016, due t the nging divestment f the interest held by GPA in Via Varej S.A. as annunced in the material fact ntice f Nvember 23, 2016, the peratins f Via Varej are treated as discntinued, with a retrspective adjustment t sales as well as in the thers result lines as frm January 1, 2015, as determined by IFRS 5/CPC 31 and apprved by CVM Reslutin 598/09 Sale f nn current assets held fr sale and discntinued peratins. Accrdingly, the fllwing cmments d nt include the perfrmance f Via Varej, which is shwn n page 3. Sales Perfrmance 4Q16 and 2016 GPA Fd Accelerating grwth: net sales f R$11.7 billin in 4Q16, up 12.1% vs 4Q15 In 2016, net sales advanced 11.4% frm 2015 t R$41.5 billin Assaí psted same stre sales grwth f 18.6% in 2016, with cnsistent perfrmance in each quarter At Multivarej, same stre sales recvered, supprted by imprvement at Extra Hyper: same stre sales grwth f arund 5%, cmpared t 2.5% in 9M16 Net Ttal Stre Sales 4Q16 x 2016 x 4Q Δ Net 'Same Stre' (R$ millin) 4Q16 Δ 2016 Δ 4Q16 (2) 2016 Fd Business 11, % 41, % Fd Business 7.7% 6.7% Multivarej (1) 7, % 26, % Multivarej (1) 3.7% 1.9% Assaí 4, % 14, % Assaí 17.3% 18.6% (1) Extra and Pã de Açúcar: supermarket stres, hypermarket, prximity, gas statins, drugstres and fd e cmmerce, in additin t revenue frm cmmercial center leasing. (2) Net sales adjusted fr the effects frm the law Lei d Bem and fr the calendar effect (year end hlidays in 2016 fell n weekends, with n bridge weekends). The adjustment fr the calendar effect in 4Q16 was apprximately +80 bps t +90 bps. Sales Multivarej: Psted its strngest quarterly same stre sales grwth f the year in 4Q16: 3.7% adjusted fr the calendar effect (2). The highlights at each banner fllw: Extra s sequential grwth accelerated ver the curse f the year: Extra Hyper psted sales grwth f arund 750 basis pints (bps) frm 9M16, reflecting the gd perfrmance f cmmercial initiatives: Fd categry: the highlight was the significant recvery in vlumes in the categries Fresh Prduce and Cmplementary Perishables, driven by the initiatives Hyper Fair, 1, 2, 3 Savings Steps and Lwest Price, with these categries psting significant vlume grwth in 4Q16 cmpared t 2015; Recvery in same stre sales in nn fd categries at Extra Hyper, whse perfrmance in 4Q16 already was psitive, reversing the trends f recent quarters, mainly supprted by the better perfrmance f the Electrnics categry; Gains in market share (sales vlume) at Extra Hyper in the last 7 measurements (April t Octber). Pã de Açúcar cntinued t demnstrate the frmat s resilience, with same stre sales and market share remaining stable ver the curse f the year: Mais Prgram cntinued t increase its share f sales t accunt already fr arund 75% (vs. 68% in 4Q15). Prximity registered abve inflatin ttal sales grwth, driven by the perfrmance f the banner Minut Pã de Açúcar: The Aliads Cmpre Bem mdel reached 100 stres in peratin, further expanding the frmat s ftprint; 2/8

3 Priritizatin f higher return banners: 9 Minut Pã de Açúcar inaugurated in 4Q16 (ne cnverted frm Minimercad Extra) /8

4 Assaí: Net sales advanced 38.6% t R$14.5 billin in The rganic expansin cntributed t R$2,3 billin in net sales in the perid. Same stre sales psted a slid perfrmance f 18.6%, with cnsistent grwth in all quarters f the year; In 4Q16, net sales advanced 35.8% t R$4.3 billin and increased its cntributin t Fd segment sales t 36.2%, reflecting the successful strategy fr expanding and psitining the frmat in the current ecnmic scenari. Same stre sales in the quarter adjusted fr the calendar effect (2) reached 17.3%, significantly utpacing inflatin. Imprtant market share gain driven by the maturatin f stres pened in recent years, duble digit custmer traffic grwth and the accelerated stre expansin, which further narrwed the gap t the market leader. Expansin: In the last 12 mnths, 30 new stres were pened, with 13 Assaí, 14 Minut Pã de Açúcar, 2 Pã de Açúcar and 1 Minimercad Extra; In the quarter, 18 new stres were pened, with 9 Minut Pã de Açúcar, 1 Pã de Açúcar and 8 Assaí, including the tw first cnversins frm Extra Hyper; The highlight was the sales perfrmance f stres cnverted frm Extra Hyper t Assaí, which exceeded expectatins, cnfirming the success f the cnversins: i) Stre in Pilares/RJ, inaugurated n Nv. 4: sales tripled in the first tw mnths f peratin; ii) Stre in Sã Vicente/SP, inaugurated n Dec. 12: custmer traffic is already 2x higher as the Assaí average in December. As part f the prcess t ptimize the stre prtfli, the fllwing stres were clsed in 2016: 5 Extra Super, 3 Extra Hyper (including tw cnversins t Assaí), 42 Prximity stres, 2 Pã de Açúcar and 1 Assaí, as well as 7 gas statins and 2 drugstres; Expansin plan fr 2017: Assaí: pening f 6 8 new stres and cnversin f Extra Hyper stres, strengthening the banner s presence in bth existing markets and new states. Multivarej: apprximately 5 new Pã de Açúcar stres and 10 Minut Pã de Açúcar /8

5 Via Varej Discntinued Operatins Highlights: Offline business: Cntinued market share gains in a cntracting market cmpared t 4Q15. While the Octber and Nvember Mnthly Retail Survey (PMC) fr furniture and electrnics sales published by the IBGE registered a cntractin in sales f 8.7% and 2.8%, respectively, same stre sales perfrmed better, cntracting by nly 1.7% in the quarter; Online business: Significant slwing in the decline in GMV (Grss Merchandise): 10.4% in 4Q16, vs. 24.2% in 3Q16, with a psitive trend ver the perid. In 4Q16, lgistics were 100% integrated and the multi channel cmmercial strategy began t be implemented near the end f the perid, which cntributed t the 16% grwth in mbile traffic in the perid. The Click & Cllect psted strng grwth, with rders increasing 31%. In the quarter, Via Varej als started selling 278 stres inventry nline, which allws immediate pick up at the stres and shuld help t reduce stckuts and freight csts; The strategy in 4Q16 was divided int three phases: i) prmtinal events during Octber and Nvember in rder t anticipate Black Friday sales; ii) during the Black Friday, increased cmpetitiveness in lw turnver prducts, priritizing prfitability in ther prducts; and iii) December with strng sales vlume, priritizing margins. Therefre, despite the mre challenging market than in 4Q15, the prfitability level f merchandise sales was similar with that f last year fr ffline business and significantly abve fr the nline business; The Mbile Telephne categry remained the tp perfrmer, with duble digit sales grwth and a higher cntributin t the sales mix in bth the ffline and nline channels. Televisin sales in the quarter als made a bigger cntributin t ttal sales, as als did seasnal prducts. Net Ttal Sales (1) R$ millin 4Q16 4Q16 X 4Q15 Offline 5, % Online 1,333 (13.1%) Ttal 6,933 (0.7%) (1) Includes the revenue frm intercmpany transactins f the Fd activities f GPA. Net Same Stre Sales Via Varej "same stre sales" 4Q Offline (Payrll adjustment) (1.7%) (1.9%) Online (GMV change) (10.4%) (16.3%) 3 5/8

6 Adjustment in same stre sales in the ffline business, excluding the effect frm the reinstitutin f payrll taxes in 4Q15 Cnslidated Via Varej (ffline+nline) psted a 0.7% drp in net sales in 4Q16, benefitting frm the recgnitin f retractive taxes related t Lei d Bem (with R$406 millin paid ver the curse f 9M16). Pr frma* revenue, i.e. excluding this effect, fell by 6.5% in relatin t 4Q15, due t: i) the 1.7% decrease in same stre sales, ii) the clsure f 47 stres in the ffline channel, and iii) the higher marketplace share f GMV in the nline business, which increased 295 bps frm 13% t 16% (17.8% in B2C s GMV nly). *Pr frma: The rerganizatin between Via Varej and Cnva was cncluded n Octber 31, Thus, the nline peratins are cnslidated based n this data and the cnslidated audited financial statements will present nly the result f Nvember and December In this release, in rder t present a mre cmparable result fr Via Varej s figures, the pr frma cncept was used presenting the result f the nline business with 12 mnths in bth 2015 and 2016 and with three mnths in bth 4Q15 and 4Q16. Investr Relatins Cntacts GPA Tel.: Fax: gpa.ri@gpabr.cm The infrmatin herein is preliminary, unaudited and subject t review. The infrmatin was determined based n cnslidated figures and denminated in Brazilian reais, in accrdance with Brazilian Crpratin Law. Change and grwth variatins are in cmparisn with the same perid f the previus year, except where stated therwise. The basis fr calculating same stre sales is defined by the sales registered in stres pen fr at least 12 cnsecutive mnths and nt clsed fr 7 r mre cnsecutive days in the perid. Acquisitins in their first 12 mnths f peratin are nt included in the same stre calculatin base. Via Varej Tel.: Fax: ri@viavarej.cm.br Abut GPA: GPA is Brazil s largest retailer, with a distributin netwrk cmprising ver 2,000 pints f sale as well as electrnic channels. Established in 1948 in Sã Paul, it has its head ffice in the city and peratins in 20 Brazilian states and the Federal District. With a strategy f fcusing its decisins n custmers and better serving them based n their cnsumer prfile in the wide variety f shpping experiences it ffers, GPA adpts a multi business and multi channel platfrm with brick and mrtar stres and e cmmerce peratins divided int three business units: Multivarej, which perates the supermarket, hypermarket and Minimercad stre frmats, as well as fuel statins and drugstres under the Pã de Açúcar and Extra banners; Assaí, which perates in the cash and carry whlesale segment; GPA Malls, which is respnsible fr managing real estate assets, expansin prjects and new stre penings; and the discntinued peratins f Via Varej, with its bricks and mrtar electrnics and hme appliances stres under the Casas Bahia and Pntfri banners, and the e cmmerce segment. 6/8

7 Disclaimer: Statements cntained in this release relating t the business utlk f the Cmpany, prjectins f perating/financial results, grwth prspects f the Cmpany and market and macrecnmic estimates are merely frecasts and are based n the beliefs, plans and expectatins f Management in relatin t the Cmpany s future. These expectatins are highly dependent n changes in the market, in Brazil s general ecnmic perfrmance, in the industry and in internatinal markets, and therefre are subject t change /8

8 SIGNATURES Pursuant t the requirement f the Securities Exchange Act f 1934, the registrant has duly caused this reprt t be signed n its behalf by the undersigned, thereunt duly authrized. COMPANHIA BRASILEIRA DE DISTRIBUIÇÃO Date: January 13, 2017 By: /s/ Rnald Iabrudi Name: Rnald Iabrudi Title: Chief Executive Officer By: /s/ Daniela Sabbag Name: Daniela Sabbag Title: Investr Relatins Officer FORWARD LOOKING STATEMENTS This press release may cntain frward lking statements. These statements are statements that are nt histrical facts, and are based n management's current view and estimates ffuture ecnmic circumstances, industry cnditins, cmpany perfrmance and financial results. The wrds "anticipates", "believes", "estimates", "expects", "plans" and similar expressins, as they relate t the cmpany, are intended t identify frward lking statements. Statements regarding the declaratin r payment f dividends, the implementatin f principal perating and financing strategies and capital expenditure plans, the directin f future peratins and the factrs r trends affecting financial cnditin, liquidity r results f peratins are examples f frward lking statements. Such statements reflect the current views f management and are subject t a number f risks and uncertainties. There is n guarantee that the expected events, trends r results will actually ccur. The statements are based n many assumptins and factrs, including general ecnmic and market cnditins, industry cnditins, and perating factrs. Any changes in such assumptins r factrs culd cause actual results t differ materially frm current expectatins. 8/8