B2W to focus investment this year on growth as company completes integration

- Monday, March 21, 2011

B2W to focus investment this year on growth as company completes integration

Brazilian online retailer B2W Cia Global do Varejo - the holding company of the Americanas and Submarino websites - expects investment this year to be focused on the company's growth strategy, director of investors relations Murilo Corrêa said during a conference call with investors.

Corrêa said that during 2010, most of B2W investments were aimed at consolidating the company's technology and logistics platforms.

"The integration process of the company is already completed. This year we will invest to expand our sales," he added. "We have created an agile and flexible structure that will enable the company to capture growth opportunities in the coming years."

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The executive said total investment would reach up to 350mn reais (US$211mn) during 2011, an increase of 35% compared with the previous year.

The expected investment for the year - which still needs final approval by the company's shareholders - will go mainly toward technology innovation, the executive said. "This will be a year of growth. B2W is a company that requires continued investment."

The company's shareholders meeting will take place April 27, Corrêa added.

For full 2010, B2W saw a 33.6mn-real net profit, down 45.8% from 2009. Ebitda, on the other hand, rose 12.3% to 547mn reais, and net revenue advanced 12.1% to 4.07bn reais.