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    Clara Lustosa

    Research Analyst at Itau BBA

    Clara Lustosa is an Equity Research Associate at Itaú BBA, specializing in coverage of the Brazilian consumer sector with a strong focus on companies such as MercadoLibre, Nubank, and Grupo Panvel. She has contributed to reports driving successful investment calls and providing key market insights, with a track record of 'Buy' recommendations for Panvel and an active role in macro research supporting consumer credit growth projections. Clara began her career in equity research and joined Itaú BBA, where she has been recognized for detailed analytics and client engagement in both fintech and retail spaces. Her credentials include analyst certification at Itaú BBA in accordance with Brazilian securities regulations.

    Clara Lustosa's questions to ASAI leadership

    Clara Lustosa's questions to ASAI leadership • Q2 2024

    Question

    Requested a follow-up on the evolution of same-store sales during the quarter, the performance of the B2B segment in light of competitors' payment terms, and guidance on the working capital and supplier days going forward.

    Answer

    The company stated that while extended payment terms can initially boost sales, they also increase delinquency risk, a risk they are currently avoiding. They clarified they operate in Cash & Carry, not distribution wholesale. For working capital, the cash cycle is expected to remain stable at around 5 days, similar to Q1 and Q2, with known seasonality effects in Q4.

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