Via Varejo's Dias upbeat on outlook for Brazil's Black Friday sales
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
By Paula Laier
SAO PAULO (Reuters) - Via Varejo SA expects online channels to propel sales of electronic appliances during Brazil's version of the popular Black Friday promotional sales day, in what may be the appliance retailer's first test of the recent takeover of an e-commerce firm, a senior executive said on Wednesday.
Aside from the efficiency gains from CNova Brasil's integration, Via Varejo is confident that consumers are eagerly waiting for Black Friday discounts, said Flávio Dias, who runs e-commerce activities for Via Varejo, Brazil's No. 1 appliance retailer.
"The mix of those factors - repressed demand and the CNova integration, should help lift sales" during Black Friday, Dias said.
Black Friday, a part of Thanksgiving celebrations in the U.S., was adopted in Brazil in recent years. According to retail industry group Blackfriday.com.br, which is promoting the date in the country, sales are expected to rise 34 percent to about 2 billion reais ($589.9 million) this year on an annual basis.
After Dias spoke with Reuters, the board of GPA SA
Earlier this month, GPA announced it was evaluating strategic options for Via Varejo, indicating that it is considering to shift focus towards food retailing. Food sales are expected to recover faster than those of appliances as Brazil's economy recovers from the longest and harshest recession in eight decades.
(Reporting by Paula Laier; Writing by Ana Mano; Editing by Guillermo Parra-Bernal, Bernard Orr)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Brazilian authorities build temporary wall to quell deadly prison clashes
- China's property, financial sectors' growth slower in Q4 despite uptick in services
- No immunity deal agreed for Gambia's Jammeh, Senegal minister says
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!