Ainda vale a pena investir no varejo?

O anúncio do pedido de recuperação extrajudicial da Casas Bahia

[{"selector":"#anim-d609603a-4776-443f-b296-f9aebfa4b480","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-195f8c7c-d23b-488c-9ecd-d29a30b06c63","keyframes":{"transform":["translate3d(-115.2381%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Embora menos traumático e impactante do que a crise da Americanas

[{"selector":"#anim-4edfb378-f3a3-47e4-a71e-46e6bd5b3beb","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5a507bf2-b6d0-457e-918b-971c8d5e3f2c","keyframes":{"transform":["translate3d(-115.14196%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Indica que o cenário do varejo nacional ainda não atingiu estabilidade plena

[{"selector":"#anim-9e9d0de7-20dc-409a-9af4-b7f4e0e2b270","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d1b1dfb2-0891-4a27-a49c-4fb1f9f3146c","keyframes":{"transform":["translate3d(-115.09434%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

A rede comunicou um ajuste de R$ 4,1 bilhões em suas obrigações financeiras

[{"selector":"#anim-32bf00fb-be62-4ae4-870e-d207904dc5fd","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-493c8602-7e61-4be4-8df6-1a54a20fc246","keyframes":{"transform":["translate3d(-113.08411%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

"Inicialmente, o anúncio é visto como uma oportunidade promissora pelos investidores"

[{"selector":"#anim-3e99a6b9-4aa5-46fe-b361-0e08a2caafc8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5ad0afce-79cf-4f1f-9318-539f7900285e","keyframes":{"transform":["translate3d(-113.08411%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Afirma Lucas Lima, analista da empresa independente VG Research

[{"selector":"#anim-b56937d2-79fb-4f3a-b89b-f1893275833f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b8cc8bdd-fc73-43e9-b984-cc9aed8f928a","keyframes":{"transform":["translate3d(-116.18123%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

“Entretanto, vale destacar o risco de grande diluição dos acionistas

[{"selector":"#anim-b0f59309-b412-45b3-8195-544091c02bb7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b38b7e79-ec82-4346-a7e1-3a6e3684c0ec","keyframes":{"transform":["translate3d(-113.39563%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Visto que a operação contempla a possibilidade de os credores

[{"selector":"#anim-6bfaf175-9f4e-4fdd-b0e2-38b8e66dfb22","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e5536c0a-dd97-4f5b-a25c-5571a9140db7","keyframes":{"transform":["translate3d(-113.95348%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Optarem pela conversão da dívida em participações acionárias"

[{"selector":"#anim-e549999c-7537-475f-aa35-d59335f8fc14","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d01b70e1-74f5-4d5d-b520-60f93a2f5cef","keyframes":{"transform":["translate3d(-112.38938%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Marcelo Noronha, CEO do Bradesco, abordou os resultados do banco no primeiro trimestre

[{"selector":"#anim-52e7a00f-c766-4e42-bbdd-daa08513b2c3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2fb0727f-74c0-44f6-a7fc-49d33fa71984","keyframes":{"transform":["translate3d(-112.38938%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

E foi questionado sobre o acordo, já que o Bradesco é um dos principais credores

[{"selector":"#anim-0907edc4-42a4-403c-9bfa-c4be2227b4b8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-19b4822c-e923-4e63-9b14-611a2cacdf20","keyframes":{"transform":["translate3d(-112.38938%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

"Nossa exposição a um cliente específico estava provisionada com folga desde o fim de 2023”

[{"selector":"#anim-6377605c-7d12-427c-8a9e-209a08e4a63e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8d2fa259-1f3c-49ca-bf10-b30b10a1b5ce","keyframes":{"transform":["translate3d(-112.0944%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Em uma linguagem mais técnica Noronha sugeriu que o Bradesco já havia antecipado cenários desfavoráveis

[{"selector":"#anim-32ca16ee-3017-446d-9e3b-461b0e2c6f3c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-07029a2f-939b-4e56-b0a1-27d064d10541","keyframes":{"transform":["translate3d(-112.0944%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

De acordo com Valter Bianchi Filho, sócio fundador e diretor de investimentos da Fundamenta Investimentos

[{"selector":"#anim-6c35ce4a-535c-4ec8-8133-78981ccb6b7e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c4828724-3c93-4de5-a2d3-dcda2d05c398","keyframes":{"transform":["translate3d(-112.0944%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

A recuperação extrajudicial “traz à tona um alerta significativo sobre a intensa pressão competitiva que afeta o setor varejista no Brasil”

[{"selector":"#anim-53fa5ab7-8ca1-485b-8342-c4635aa3b2f7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3d53ebe0-aa4f-474e-9f1d-21e5e59b64a4","keyframes":{"transform":["translate3d(-112.0944%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Bianchi aponta que um dos fatores negativos para o setor é a persistência das taxas de juros elevadas

[{"selector":"#anim-16fccacb-7c9c-4f58-932d-19c7c150c6f0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7775efab-37df-4a25-a206-2da9cefef02f","keyframes":{"transform":["translate3d(-112.0944%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Além da queda da renda e o endividamento dos consumidores

[{"selector":"#anim-5262022b-e5e5-41d8-ae05-a54b2c0e8e6a","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1d3075a3-4051-4356-9a00-8ec8a5613202","keyframes":{"transform":["translate3d(-112.0944%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

“Também há a questão das compras em sites estrangeiros que chegam ao Brasil com vantagens tributárias significativas”

[{"selector":"#anim-628bc5e1-a296-4465-92f0-b2b336caab2f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5eccaa1d-840f-465c-b968-d5cb415dcc7d","keyframes":{"transform":["translate3d(-112.0944%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Ele destaca que a crise do varejo tradicional é realmente uma tendência global

[{"selector":"#anim-76ac0e51-170d-4932-b8cc-50f7362170ba","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-23146b41-fcc0-4af8-be74-64b907e599e8","keyframes":{"transform":["translate3d(-112.0944%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]