Brazil Succumbs to the Retail Apocalypse It Staved Off for Years [BNN Bloomberg (Canada)]
Banco Bradesco Sa American Depositary Shares (each representing one Common Share) (BBDO)
US:NYSE Investor Relations:
bradescori.com.br/sitebradescori/default-en.aspx
Company Research
Source: BNN Bloomberg
Though e-commerce reshaped retailing in the US and Europe even before the pandemic, a confluence of economic, financial and logistical circumstance kept the South American nation insulated from the trend until later. That means the bankruptcies, mergers and strategic shifts that have rippled through the sector elsewhere are now coming for some of the biggest Brazilian chains. Marcelo Noronha, the top executive at Banco Bradesco SA, flagged retail as one of the weakest segments of the Brazilian economy right now. “When compared with other sectors, there are more challenges for retailers,” he told reporters Thursday. Last weekend, Grupo Casas Bahia SA — one of country's most popular chains — filed an out-of-court recovery plan to reschedule around 4.1 billion reais ($802 million) in debt payments. And credit has been tight ever since the downfall of Americanas SA in an accounting scandal last year, which put the entire sector under the microscope. There's also a growing wave of t
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