, 2015 - GPA [BM&FBOVESPA: PCAR4; and NYSE: CBD] releases its second quarter (2Q15) of 2015 earnings results.

Consolidated

Net sales growth of 6.6%, adjusted for the calendar effect,
with 236 new stores opened in the last 12 months (50 this quarter)
Cash reserve of R$ 6.811 billion, an increase of R$ 1.455 billion from 2Q14
Investments of R$ 470 million, an increase of 51% from the previous year

Food Business (Multivarejo + Assaí)

Multivarejo showing resilience, with adjusted EBITDA margin of 7.3%
24 renovated Extra stores showed signs of recovery and
new stores will be reopened in the second half of the year
Consistent results from Assaí, with 16.9% growth in adjusted EBITDA

Via Varejo

Gain in market share of 70 bps from January to May 2015
Cash balance of R$ 2.97 billion, with net debt decreasing by R$ 173 million from 2Q14
Gross margin improvement of 130 bps from 2Q14

Cnova

Solid GMV growth of 25.8%
EBITDA margin expansion of 93 bps in France and Brazil compared to 1Q15
Positive cash flow in the last 12 months

Click on the links below in order to access:

2Q15 Earnings Release

Spreadsheet

CONFERENCE CALL WITH WEBCAST
July 29 th, 2015
10:30 a.m. (Brasília time) | 9:30 a.m. (NY) | 2:30 p.m. (London)
Conference in English (simultaneous translation)
+1 (646) 843-6054
Webcast: click here.
Conference in Portuguese (original language)
+55 (11) 2188-0155
Webcast: click here.

Replay: +55 (11) 2188-0400
Access code for audio in English: GPA
Access code for audio in Portuguese: GPA
The conference call will also be available in audio format on http://www.gpari.com.br/.

Please dial in five minutes prior to the scheduled conference call time.

Departamento de Relações com Investidores - Investor Relations Team
+55 (11) 3886-0421
gpa.ri@gpabr.com
www.gpari.com.br

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