Friday , December 3 2021

Luiza Magazine (MGLU3) Net revenue of $ 386 million for Q2



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Luiza Magazine

(Press Release / Shopping Iguatemi Fortaleza)

SAO PAULO – The Luiza Magazine (MGLU3) retail chain ended the second quarter of this year with a net income of $ 386.6 million, up 174.7% from R $ 140.7 million a year earlier. During the semester, the increase was 80%, to $ 518.7 million.

Ebitda (earnings before interest, depreciation and amortization) closed the period between April and June at RR $ 379.9 million, an increase of 21.6% over the same period in 2018, when it was $ 312.4 million.

Net revenue, however, increased 16.6% in one year to R $ 4.308 billion in the second quarter of this year. Meanwhile, Magalu's total sales, including the market, rose 24.4% over the same period to $ 5.747 billion.

According to the company, the improvement in sales reflects a 56.2% increase in total e-commerce and 8.7% in physical stores. "It is worth highlighting the launch of 102 new stores, with sales above expectations, increasing overall retail store growth by 8.4 pp," the release said.

Luizacred's total revenue grew 51.4% between April and June, the highest growth rate in the last 5 years, according to Magalu. The base of Luiza Cards increased by 24.2% in one year, reaching 4.6 million cards. Over the same period, Luiza Card's total turnover was $ 6.3 billion, an increase of 32.7%.

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