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By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Retailers in Brazil could lose over R$10.5 billion this year due to national holidays, show the estimates from the São Paulo Commerce Federation (FecomercioSP). According to the entity, this volume is two percent higher than that forecast in 2016 due to the fact that in 2017 there will be an extra holiday during the workweek.

“The clothing, fabrics and footwear sector is expected to lose approximately R$1.1 billion with the holidays in 2017, 23 percent more than in 2016,” read the press release. The supermarket . . .

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