Stocks of retailers retreat in the stock market after Black Friday

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The shares of Brazilian retailers fell on Monday on the stock exchange after data pointed to a drop in online sales over the weekend of Black Friday, even though analysts have highlighted the difficulty of comparing the data.

At 11:10 am, Americanas shares fell 5.75%, to 10.32 reais, among the biggest losses of the Ibovespa, which lost 0.19%. Rivals Via and Magazine Luiza fell 2.23% and 2.34%, respectively.

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Data from Confi Neotrust, in partnership with data intelligence company ClearSale, revealed an annual decline of 34.2% in online retail sales from Thursday midnight to Friday at 7 pm, to around 3. 1 billion reais.

On Saturday, the performance improved, but it was still 4.3% below the revenue seen a year earlier, moving about 1.2 billion reais, according to Neotrust data based on sales for the entire day.

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Analysts had already been saying that the scenario of interest rates and inflation should negatively impact consumer purchases on Black Friday.

In addition, Black Friday 2022 was atypical, especially because of the convergence with the World Cup, which made several retailers choose to extend the promotions period during November. The online sales boom in the pandemic also impacts the data comparison base.

“Given the advance purchases in the weeks leading up to Black Friday, the event should not be analyzed in isolation,” wrote analysts at BTG Pactual led by Luiz Guanais in a report dated Sunday.

“Meanwhile, some shoppers have returned to brick-and-mortar stores for Black Friday, making e-commerce sales less comparable to the past two years,” they added.

Data from Neotrust also show a decrease in the index accumulated in November. Marcelo Queiroz, head of market strategy at ClearSale, said that “total e-commerce revenues, from November 1st to the 26th, at 11:59 pm, closed at 17.7 billion reais, something about 8% less than 2021”.

The Safra team said in a comment to customers that they did not believe “that anyone expected Black Friday to drastically change the trend of a globally difficult year for e-commerce in terms of sales”.

They said that sector equities should continue to be impacted more by “uncertainty regarding the macroeconomic scenario and its impact on interest rates (and consequently the cost of capital) than by short-term operating performance.”

Source: CNN Brasil

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