Shopee's Rise Raises Risks for Brazil's Battered Retail Stocks [Business News Network (BNN) (Canada)]
MercadoLibre, Inc. (MELI)
Last mercadolibre, inc. earnings: 2/10 04:01 pm
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Source: Business News Network
Retailers Americanas SA, Magazine Luiza SA and Via SA have all extended losses this year after slumping at least 58% in 2021, while an MSCI index for consumer-discretionary company shares trades near the lowest since 2004. The weakness has been driven by tepid economic growth prospects in Brazil, anticipation of a slowdown in earnings and mounting fears over the competitive landscape. Investors have been particularly interested in Shopee, which started its operations in Brazil in 2019, focused on low-ticket items. Its e-commerce market share in the country is estimated by Goldman Sachs Group Inc. to be in the high single-digits. Competition from the Southeast Asia giant became “a key topic” last year, Goldman analysts led by Irma Sgarz wrote in a report dated Jan. 12, adding that the firm's market share could rise to 20% by 2025. “We expect it to remain relevant in 2022 as it continues to build out its presence and service offering.” Shopee's local operations in Latin America h
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MELI
Earnings
- 5/2/24 - Beat
MELI
Sec Filings
- 5/3/24 - Form 10-Q
- 5/2/24 - Form 8-K
- 4/25/24 - Form DEFA14A
- MELI's page on the SEC website