June 24, 2020 / 5:24 PM / 2 months ago

Brazil's Iguatemi sees customer flow at least 50% lower in reopened malls

SAO PAULO, June 24 (Reuters) - Brazilian upscale malls operator Iguatemi Empresa de Shopping Centers SA sees customer flow at between 35% and 50% of what it used to be before the coronavirus pandemic, its Chief Financial Officer said on Wednesday.

“It is still early to assess post-pandemic consumption patterns, especially as we are operating with reduced opening hours in most of our malls,” CFO Cristina Betts told analysts and investors in a call on the COVID-19 impact on operations. “Sales conversion varies according to each mall and also depends on categories,” she added. (Reporting by Gabriela Mello Editing by Chizu Nomiyama)

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