Business · Companies · 7 hrs ago
Assaí same-store sales rise 3.9% in October after betting-site blocks
Assaí's same-store sales rose 3.9% in October after five quarters of nearly flat sales.
The Brazilian grocery retailer saw the change after online betting sites and apps were blocked around October 6 under a provisional government measure.
Assaí CEO Belmiro Gomes said the ban may have helped, but the company says it is too early to measure the effect.
The improvement was strongest in stores serving lower-income shoppers, especially in the interior of the Northeast, and came mainly from higher average spending on basic foods, meat and drinks.
In July to September, before the block, Assaí's recurring profit rose 55.2% to R$248 million, while same-store sales grew just 0.1%.
The measure still needs Congress's approval, and betting companies have challenged it at Brazil's Supreme Court, so its future is uncertain.
Assaí reported a 3.9% rise in same-store sales in October, after online betting sites and apps began being blocked in Brazil.
CEO Belmiro Gomes said the ban could potentially improve sales by 4% to 5% across the company’s total base, but said it was too early to measure the effect.
The improvement was strongest in stores serving lower-income customers, especially in the interior of the Northeast, and was driven mainly by higher average spending.
Assaí’s recurring profit rose 55.2% to R$248 million in the third quarter, before the betting-site blocks took effect.
- Who
- Assaí, the Brazilian wholesale-retail chain, reported the sales increase. CEO Belmiro Gomes discussed the possible effect of the betting-site blocks.
- What
- Same-store sales rose 3.9% in October.
- When
- October 2026. The blocks began around October 6.
- Where
- Brazil.
- Why
- The increase followed the blocking of online betting sites and apps. Gomes said the ban could be contributing, but it was too early to measure its exact effect.
This story does not have two clearly opposing sides.
The measure that led to the blocks was signed.
Betting sites and apps began being blocked in Brazil.
Assaí’s same-store sales rose 3.9%.
Gomes said sales were continuing along the same pattern as in October.
- October same-store sales
- Up 3.9%
- Potential effect cited by CEO
- 4% to 5% improvement in the total base
- Third-quarter recurring profit
- R$248 million, up 55.2%
- Third-quarter gross revenue
- R$21.3 billion, up 2.7%
- Measure signed
- September 25
What people are saying
We have at least an idea of a potential improvement of around 4% to 5% on the total base, which is a lot for the food sector
The expectation is that perhaps families can have a bigger Christmas this year than in the last two years
Everything that is provisional... The name itself says it