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    Danniela Eiger • XP Inc.

    Danniela Eiger's questions to Companhia Brasileira de Distribuicao SA (CBDBY) leadership

    Danniela Eiger's questions to Companhia Brasileira de Distribuicao SA (CBDBY) leadership • Q1 2025

    Question

    Danniela Eiger of XP Inc. inquired about updates on tax settlement discussions, the potential for further expense reductions through technology and automation, and the current penetration and future potential of retail media.

    Answer

    Executive Marcelo Pimentel confirmed active work on federal-level tax settlements, noting the potential use of tax credits to minimize cash impact. He detailed expense reduction efforts through productivity optimization and a zero-based budget, each targeting over BRL 100 million in savings. Pimentel also described retail media's evolution, which generated nearly BRL 100 million in high-margin revenue in 2024 and is now entering a data-driven customization phase with high double-digit growth expected.

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    Danniela Eiger's questions to Companhia Brasileira de Distribuicao SA (CBDBY) leadership • Q4 2024

    Question

    Danniela Eiger from XP Inc. asked for an explanation of the growth dynamics, specifically questioning why the proximity format's same-store sales growth was flat in Q4 and lagged behind other formats like Extra Mercado.

    Answer

    Executive Rafael Russowsky explained that the disparity is due to seasonality. Supermarket formats benefit from high-volume Q4 events like Black Friday and Christmas, which require promotional space that smaller proximity stores lack. He noted proximity stores have a more stable, convenience-driven demand and that their margins are improving due to a less frequent promotional calendar. Russowsky also mentioned that the vacation period sees many Sao Paulo residents leave the city, impacting sales at city-based proximity stores while boosting coastal locations.

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