Assai's Profits Plunge 21.2% in Q2
Brazilian food retailer Assai reported a 21.2% decrease in its second-quarter net profit compared to the same period last year, totaling 123 million reais ($22 million) for the quarter ending in June.
![Assai's Profits Plunge 21.2% in Q2](https://devdiscourse.blob.core.windows.net/aiimagegallery/13_06_2024_08_50_17_2245341.png)
Brazilian food retailer Assai reported a significant drop in its second-quarter net profit, down 21.2% from the same period a year earlier.
The company, which operates a chain of stores in a hybrid wholesale format, announced a net profit of 123 million reais ($22 million) for the quarter ending in June.
The steep decline raises concerns about the retailer's future performance amidst economic challenges.
(With inputs from agencies.)
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