Xmas Br Assuntos Gerais douglasp em 03/01/17 19:38 Alshop (Brazilian Shopping Malls’ Retailers Association) said that y/y growth in 2016 Xmas sales was the weakest since 2004. According to Alshop, shopping malls’ sales were down 3% y/y in December(in nominal terms), which represents a ~8% plunge in real terms. y/y).Alshop added that there were ~18,000 stores closed last year (~13% of stores in shopping malls). Since 2004, Alshop had never registered a decline in the numbers of malls’ stores, which was driven by the weak occupancy of malls inaugurated in the past two years (of ~50%, on average, vs. 85% in previous years).
