A influência da transformação dos canais de venda durante a pandemia nas demonstrações contábeis de empresas varejistas

Abstract

The study examined the influence of changes in sales channels, focusing on the expansion of e-commerce during the COVID-19 pandemic, on the financial statements of Brazilian retail companies, specifically Magazine Luiza S.A. and Grupo Casas Bahia S.A. The purpose was to investigate how digital commerce affected liquidity, indebtedness, and profitability indicators across the pre-pandemic, pandemic, and post-pandemic periods. The research adopted a qualitative, descriptive, and documentary approach, using data extracted from financial statements published by the companies and official institutions, covering the years 2018 to 2023. Economic- financial indicators of liquidity, indebtedness, and profitability were calculated and analyzed based on relevant literature. The results showed that the pandemic accelerated the shift toward digital commerce and required significant investments in technology, logistics, and operational infrastructure, directly impacting margins, capital structure, and the need for external financing. Magazine Luiza demonstrated better balance in liquidity and indebtedness, as well as greater consistency in operating and net margins, despite pressured profits in recent years. In contrast, Grupo Casas Bahia revealed strong dependence on third-party capital, high leverage, and predominantly negative net margins, although it advanced in marketplace initiatives and digital credit. The study concluded that transformations in sales channels intensified the relevance of digital commerce and contributed to reshaping the economic-financial performance of the analyzed retail companies, highlighting the importance of efficient cost management, debt control, and technological investments for the sector’s sustainability.