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.

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.