Recent times have not been easy for Magazine Luiza. In addition to the actions having been punished in the financial market, the company announced on Thursday, 11, a loss above expectations in the second quarter, of R$ 135 million. The president of Magazine Luiza, Frederico Trajano, said that the company promises to “work hard” to turn the results around. “The sales outlook is better in the second half of the year. You have to assess the stock according to the outlook,” he said.
He declined, however, to give projections of high sales for the second half, but said that the company is in a position to gain market share. “I promise to work hard. We have everything to be able to win the market again. Even if the ‘cake doesn’t grow’, which is unlikely, we can win market,” he said.
IN RED
The net loss of R$135 million in the second quarter represented a reversal of the net income of R$95.5 million reported in the same period last year. In the adjusted concept, which excludes non-recurring effects, the result was a negative R$112 million, compared to a positive R$89 million a year ago.
The number came in 23% worse than the average of the five houses consulted by the Broadcast Previews (Itaú BBA, Santander, BTG Pactual, Eleven and XP). The adjusted result, however, was closer to the forecast of the houses, in negative R$ 112 million.
In the Ebitda line (earnings before interest, taxes, depreciation and amortization), the result was R$ 457 million, a decrease of 1.7% compared to that reported from April to June 2021. The same indicator in the adjusted concept , however, was R$ 492 million, an increase of 8%.
In all, the company sold R$ 13.9 billion in the quarter, a positive variation of 1.3% compared to a year ago. Meanwhile, net revenue was R$8.6 billion, down 5%.
PROJECTION
The financial director, Roberto Belissimo, says that the company’s stock, excluding the one that comes from the purchase of Kabum, is lower than in June 2021. The commercial and operations vice president, Fabrício Garcia, says that the stock is healthy and has no breakages, and that events such as the World Cup, at the end of the year, could give the retailer some relief.
Garcia prepares for greater demand for televisions in the second half and indicates a positive fourth quarter. He says that the arrival of 5G has shown an increase of 30% to 40% in the search for devices compatible with the technology.
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