If I go back, our margins were even lower in 2017. The company was having serious problems.
Then we announced a fairly major restructuring project called Sunrise. We made the announcement publicly. That three-year program, from 2017 to 2020, enabled us to start over with profitability, but at a level that was still lower than our peers'. If we compare ourselves with our main competitors, our 2.5% to 2.6% margin is still lower than theirs.
In addition, over the last two quarters—I think we really reached the peak of inflation in the last six months—our net profit margins have not risen. So we have to distinguish between a corporate restructuring activity that started in 2017 and the situation in the last two quarters. It shows that we are not profiting from inflation; quite the contrary. Regardless of inflation, even at 10% or 11%, our sales were flat over the last two quarters. We are not making more sales because of inflation. Our margins and our sales are stable. Those figures appear in our quarterly reports.
I made a statement about giving the customer value. I said earlier that there were between 20,000 and 25,000 products in the store. That is the best example I can give you: a private label as opposed to a national brand. The private label will cost between 10% and 20% less than a national brand. Our job is to promote them. That is an easy way for customers to mitigate the effect of inflation on their budget. That is one example, but there are others. I could spend all afternoon telling you about them.