Connect with us

Published

on

Follow Us

Follow Us @

Magazine Luiza overcomes one-year loss in second quarter
welcome to afrilatest, receive alerts for Youth opportunities, Money, Investment opportunities and lots more!

Overcoming last year's losses, it was announced this Thursday (8) that Magazine Luiza recorded a net profit of R$23.6 million in the second quarter. In the same period of 2023, it had a loss of R$301.7 million.

Loss reversed

Adjusted, net income was R$37.4 million in the period, also reversing the loss of R$198.8 million, according to 1-year earnings reports.

Sales growth in one year in physical stores, e-commerce and marketplaces was 4.5%, totaling R$15.4 billion. This was due to a 0.9% increase in total sales in e-commerce and 14.2% in physical stores.

Advertisement

Embed from Getty Images

Pedestrians pass in front of the Magazine Luiza store in the city of São Paulo (Photo: reproduction/Getty Images embed)


Profit exceeds negative balance

R$ 2 billion is the net cash value, closing the second quarter, with a negative balance in 57 stores, with 1,246 stores compared to the same period in 2023.

With an influence on the operating result and also on working capital, cash generation was R$2.2 billion last year.

Advertisement

The company recorded a total of R$710.7 million in profit without taxes, interest, depreciation and amortization EBITDA, an increase of 61.6% year-on-year, while EBITDA rose to 130.7%, or R$655 million on the same basis.

Founded in 1957, Magazine Luiza is a large digital sales platform with 1,303 physical stores spread across 20 Brazilian states. It has around 39,000 employees and 22 distribution centers. With so much time in the market, it is expected not only to be profitable but also to remain in the market and to constantly advance and grow, increasingly overcoming potential losses.

Featured photo: facade of Magazine Luiza store in the city of Salvador, Bahia (Reproduction/Joa_Souza/Getty Images embed)

Advertisement

Follow AFRILATEST on Google News  and receive alerts for Youth opportunities, Money, Investment opportunities and more!

Magazine Luiza overcomes one-year loss in second quarter

SHARE POST AND EARN REWARDS:

Join our Audience reward campaign and make money reading articles, shares, likes and comment – Magazine Luiza overcomes one-year loss in second quarter
>> Join reward Program

FIRST TIME REACTIONS:

Be the first to leave us a comment – Magazine Luiza overcomes one-year loss in second quarter
, down the comment section. click allow to follow this topic and get firsthand daily updates.

JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >

Magazine Luiza overcomes one-year loss in second quarter

Advertisement

#Magazine #Luiza #overcomes #oneyear #loss #quarter
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending