**EXHIBIT 12.1**

**CERTIFICATION**

I, Ronaldo Iabrudi, certify that:

1.     I have reviewed this annual reporton Form 20-F of COMPANHIA BRASILEIRA DE DISTRIBUIÇÃO;

2.     Based on my knowledge, this reportdoes not contain any untrue statement of a material fact or omit to state amaterial fact necessary to make the statements made, in light of thecircumstances under which such statements were made, not misleading withrespect to the period covered by this report;

3.     Based on my knowledge, thefinancial statements and other financial information included in this reportfairly present in all material respects the financial condition, results ofoperations and cash flows of the company as of, and for, the periods presentedin this report;

4.     The company’s other certifying officersand I are responsible for establishing and maintaining disclosure controls andprocedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))and internal control over financial reporting (as defined in Exchange ActRules 13a-15(f) and 15d-15(f)) for the company and have:

a)    designed such disclosure controlsand procedures or caused such disclosure controls and procedures to be designedunder our supervision to ensure that material information relating to thecompany, including its consolidated subsidiaries, is made known to us by otherswithin those entities, particularly during the period in which this report isbeing prepared;

b)    designed such internal control overfinancial reporting, or caused such internal control over financial reportingto be designed under our supervision, to provide reasonable assurance regardingthe reliability of financial reporting and the preparation of financialstatements for external purposes in accordance with generally acceptedaccounting principles;

c)     evaluated the effectiveness of thecompany’s disclosure controls and procedures and presented in this report ourconclusions about the effectiveness of the disclosure controls and proceduresas of the end of the period covered by this report based on evaluation; and

d)    disclosed in this report any changein the company’s internal control over financial reporting that occurred duringthe period covered by the annual report that has materially affected, or isreasonably likely to materially affect, the company’s internal control overfinancial reporting; and

5.     The company’s other certifyingofficer and I have disclosed, based on our most recent evaluation of internalcontrol over financial reporting, to the company’s auditors and to the auditcommittee of the company’s board of directors (or persons performing theequivalent function):

a)    all significant deficiencies andmaterial weaknesses in the design or operation of internal control overfinancial reporting which are reasonably likely to adversely affect the company’sability to record, process, summarize and report financial information; and

b)    any fraud, whether or not material,that involves management or other employees who have a significant role in thecompany’s internal control over financial reporting.

Date: September 8, 2016

By:         /s/ Ronaldo Iabrudi                                             

Name:    Ronaldo Iabrudi

Title:       Chief Executive Officer