Consumer
Allos, Multiplan Soar in Sharp Comeback for Brazil Mall Stocks
- Allos is set to record its biggest annual jump since 2019
- Malls outperforming large retailers, bucking US downward trend
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Brazilian malls are back in consumers’ good graces, rebounding from years of losses while the country’s retailers struggle to survive high debt loads and fierce online competition.
Shares of Allos SA are up close to 60% this year, hitting their highest in over two years earlier this month and on track for their biggest annual jump since 2019. Peers Multiplan Empreendimentos Imobiliarios SA and Iguatemi SA have gained around 30%, outperforming the Ibovespa benchmark stock gauge.