Brazilian Retailers "UBS Shopping Cart: Retail pharmacy shrinkage; 6x1 r..."

研报英文原文证据摘录

Brazilian Retailers "UBS Shopping Cart: Retail pharmacy shrinkage; 6x1 r..."

Global Research

17 June 2026ab

Brazilian Retailers Equities

AmericasUBS Shopping Cart: Retail pharmacy

shrinkage; 6x1 reform; Needs expansion; Consumer, Cyclical

Valentine's Day sales; TV sales ahead of the Vinicius Strano,AnalystCFA

world cup vinicius.strano@ubs.com+55-11-2767 6688

Isabella Lamas

Associate Analyst

Losses in the retail pharmaceutical sector reach R$3bn isabella.lamas@ubs.com

+55-11-2767 6836

According to the Brazilian Loss Prevention Association (Abrappe), losses in the retail

pharmaceutical sector reached 1.2% of net sales, equivalent to ~R$3bn. The survey Lucca Biasi

highlighted an increase in unidentified losses, which includes theft, shoplifting, and Associate Analyst

lucca.biasi@ubs.com

inventory discrepancies, rising from 0.4% to 0.5% of revenue. According to the

+55-11-2767 6173

association, this trend has been largely driven by growing demand for high-value

medications, particularly GLP-1 weight-loss drugs. Despite the increase in losses, Pedro Perone

Associate AnalystAbrappe noted that pharmacy chains have been strengthening investments in loss

pedro.perone@ubs.com

prevention and security measures and remain well equipped to address the issue.

+55-11-2767 6007

Additionally, non-sellable products, including operational damages and expired

inventory, accounted for ~R$1.8bn of total losses.

Government drops urgency request on 6x1 bill

According to Valor, the Lula administration withdrew the urgency status of the bill

aimed at ending Brazil’s 6x1 work schedule after the bill’s rapporteur presented a

formal report on the proposal. While the report preserves the core text already

approved under the constitutional amendment (PEC), it introduces changes to the