C&A Modas S A : Spreadsheets and fundamentals 1Q23

Index

Financial and Operating information 1Q23
Unaudited information
English
BALANCE SHEET	CASH FLOW
Contato/Contacts information:
[e-mail]	INCOME STATEMENT	OPERATING DATA
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INCOME STATEMENT (PRE IFRS16)	CAPEX
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FINANCIAL SERVICES

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Balance Sheet

Índice | Index
Balance Sheet (R$ thousand)	3/31/19	6/30/19	9/30/19	12/31/19	3/31/20	6/30/20	9/30/20	12/31/20	3/31/21	6/30/21	9/30/21	12/31/21	6/30/21	9/30/21	12/31/21	3/31/22	6/30/22	9/30/22	9/30/22	12/31/22	3/31/23
Total Assets	3,631,176	3,394,299	3,478,337	5,432,673	5,572,110	5,547,552	6,037,092	5,798,357	6,498,495	6,778,016	7,309,647	6,797,551	6,963,596	7,613,818	8,672,666	8,256,189	9,006,089	9,014,859	9,629,593	9,037,983	9,037,983
Currente Assets	2,144,643	2,125,587	2,195,569	1,772,454	1,919,154	2,195,084	2,999,575	2,062,197	2,823,204	3,093,026	3,519,978	2,968,632	2,898,253	3,084,103	3,929,398	3,626,438	4,375,226	4,064,337	4,753,223	4,311,183	4,311,183
Cahs and cash equivalents	489,705	431,759	446,006	134,884	95,310	188,732	447,109	279,963	1,259,009	1,321,684	1,509,159	1,038,471	878,959	969,382	1,050,251	660,373	1,113,575	1,228,216	1,674,091	1,455,994	1,455,994
Short-term investments	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	3,978	4,097	8,464	8,735	4,393	4,393
Trade receivables	1,013,011	1,070,690	1,142,836	755,231	935,816	831,689	1,151,484	690,905	374,462	680,848	1,063,844	576,895	849,904	873,108	1,145,336	986,769	1,258,395	1,107,378	1,278,206	846,019	846,019
Derivatives	35,463	53,835	55,067	2,717	41	6,711	651	34,527	7,349	4,341	238	4,718	- 0	2,424	1,535	- 0	282	1,193	1,371	- 0	- 0
Related Parties	767	1,031	259	36	64	67	356	124	38	43	124	156	927	158	504	70	73	107	95	72	72
Inventories	536,579	479,427	490,614	605,202	605,680	586,917	544,717	784,236	810,283	762,170	641,020	939,016	862,404	882,753	849,269	979,770	960,941	974,956	852,033	1,001,937	1,001,937
Taxes recoverble	55,725	72,877	42,847	246,461	251,410	542,582	833,649	233,524	338,007	290,037	282,660	364,982	274,258	314,881	849,155	936,586	959,941	692,907	899,433	955,978	955,978
Other assets	13,393	15,968	17,940	27,923	30,833	38,386	21,609	38,918	34,056	33,903	22,933	44,394	31,801	41,397	33,348	58,892	77,922	51,116	39,259	46,790	46,790
Noncurrent Assets	1,486,533	1,268,712	1,282,768	3,660,219	3,652,956	3,352,468	3,037,517	3,736,160	3,675,291	3,684,990	3,789,669	3,828,919	4,065,343	4,529,715	4,743,268	4,629,751	4,630,863	4,950,522	4,876,370	4,726,800	4,726,800
Short-term investments	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	7,776	3,978	4,096	-	-	- 0	- 0
Taxes recoverble	1,727	2,396	7,649	1,052,503	1,064,645	794,709	521,136	1,149,089	1,029,655	1,091,448	1,157,357	1,153,846	1,363,649	1,322,568	839,778	720,027	650,877	922,111	937,371	815,439	815,439
Deferred taxes	440,059	398,811	370,643	- 0	- 0	- 0	- 0	2,154	108,066	127,986	71,492	136,761	105,346	429,099	378,803	475,718	475,547	516,758	423,049	492,461	492,461
Judicial deposits	50,474	52,280	67,748	70,767	72,352	75,040	101,836	102,961	102,716	83,054	81,513	78,943	48,371	61,618	61,937	62,527	63,223	60,917	61,290	62,067	62,067
Other assets	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	175	161	147	133	118	104	90	76	62	62
Related Parties	4,520	3,563	2,903	2,979	2,496	1,216	1,978	3,539	3,824	3,698	2,684	1,656	1,845	2,512	2,587	4,083	1,886	965	2,528	2,222	2,222
Investments	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(0)	(0)
Property and equipment	780,251	612,572	636,927	644,442	665,933	692,866	717,412	664,352	640,603	631,086	667,225	660,067	689,490	712,252	836,269	821,341	835,016	827,745	865,545	836,032	836,032
Right-of-use assets-leases	- 0	- 0	- 0	1,678,309	1,640,070	1,591,716	1,507,815	1,601,294	1,573,189	1,527,449	1,514,438	1,481,937	1,492,172	1,598,836	1,640,290	1,576,101	1,615,411	1,622,000	1,565,447	1,507,326	1,507,326
Intangible assets	160,045	199,090	196,898	211,219	207,460	196,921	187,340	212,771	217,238	220,269	294,960	315,534	364,309	402,683	975,695	965,858	984,703	999,936	1,021,065	1,011,191	1,011,191
Total liabilities and shareholder's equity	3,631,176	3,394,299	3,478,337	5,432,673	5,572,110	5,547,552	6,037,092	5,798,357	6,498,495	6,778,016	7,309,647	6,797,550	6,963,596	7,613,818	8,672,666	8,256,190	9,006,089	9,014,859	9,629,594	9,037,983	9,037,983
Current Liabilities	1,746,409	2,022,855	1,750,068	1,213,379	1,238,059	1,224,875	1,751,077	1,475,716	1,488,605	1,827,303	2,251,711	1,975,019	1,585,559	1,901,386	2,415,055	2,381,594	3,182,359	3,240,893	3,679,731	2,769,953	2,769,953
Lease liabilities	287	257	230	313,384	319,121	321,224	357,891	368,949	392,618	388,324	390,603	411,635	435,780	454,401	471,723	484,740	505,585	515,756	513,238	487,113	487,113
Trade paybales	609,005	686,193	678,846	569,391	627,419	581,978	804,013	628,151	405,378	725,443	923,735	692,731	669,833	785,397	1,024,434	676,269	784,560	724,292	1,009,059	789,110	789,110
Drawee risk obligations	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	10,567	- 0	235,179	226,255	178,140	276,290	376,302	192,107	237,289	250,702	386,266	252,049	252,049
Suppliers Buying back the right to offer credit (Bradescard)	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	422,851	436,702	452,998	469,328	- 0	- 0
Loans	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	375,890	384,514	390,600	417,680	69,142	105,901	121,178	195,286	916,603	977,683	746,015	836,674	836,674
Derivatives	128,302	74	403	- 0	2,532	- 0	3,938	- 0	- 0	- 0	6,788	247	5,809	496	1,910	28,758	4,797	1,872	1,756	5,014	5,014
Labor liabilities	104,360	136,866	130,922	144,494	115,172	135,177	128,548	124,250	137,789	145,067	136,126	111,566	129,534	158,640	155,470	160,656	127,233	141,383	198,732	204,702	204,702
Related Parties	694,914	980,051	711,575	118,670	52,348	92,627	69,519	143,904	37,210	67,162	34,766	65,118	22,215	34,177	59,017	100,917	42,443	65,637	43,592	96,924	96,924
Interest on shareholders' equity and dividends payable	- 0	- 0	- 0	- 0	- 0	- 0	144,834	144,834	68,846	68,846	1	1	1	-	- 0	- 0
Taxes payable	173,590	184,184	187,495	45,690	92,618	65,547	219,282	41,695	18,105	22,200	107,276	16,836	42,555	51,761	176,103	91,235	90,245	61,316	248,041	49,793	49,793
Other liabilities	35,951	35,230	40,597	21,750	28,849	28,322	23,052	23,933	42,202	25,747	26,637	32,951	32,551	34,322	28,918	28,774	36,901	49,253	63,704	48,574	48,574
Noncurrent liabilities	1,058,479	364,931	613,230	2,354,784	2,447,211	2,410,656	1,546,445	1,612,029	2,431,859	2,401,408	2,403,136	2,298,101	2,788,232	2,871,225	3,262,602	3,048,649	2,979,102	2,988,094	2,949,667	3,396,871	3,396,871
Lease liabilities	2,105	1,848	1,618	1,375,189	1,343,522	1,303,601	1,229,789	1,331,949	1,312,636	1,273,832	1,264,193	1,224,742	1,225,024	1,314,639	1,342,425	1,276,364	1,310,604	1,325,610	1,275,974	1,251,003	1,251,003
Trade payables	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	24,810	20,787	20,489	19,659	20,060	20,367	13,208	12,473	12,570	11,205	11,205
Suppliers Buying back the right to offer credit (Bradescard)	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	415,000	- 0	- 0	-	-	487,189	487,189
Related Parties	690,606	- 0	313,450	662,450	782,450	782,450	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	- 0	- 0
Loans	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	829,274	834,797	820,652	801,375	1,280,206	1,268,825	1,253,648	1,514,959	1,423,975	1,404,367	1,404,817	1,385,352	1,385,352
Labor liabilities	5,199	3,971	4,058	3,278	3,196	2,193	3,551	3,459	2,841	3,618	4,442	4,701	6,372	6,265	5,675	6,326	6,402	6,979	7,370	7,484	7,484
Labor, Civil, Security and Tax Provisions	319,649	321,034	262,607	268,228	266,626	259,974	233,842	229,007	230,582	231,226	230,124	188,165	194,440	197,126	169,526	174,282	172,276	178,432	182,847	190,151	190,151
Taxes payable	- 0	- 0	- 0	- 0	58	681	1,073	14,457	23,168	24,569	24,997	25,109	27,792	26,751	16,212	15,019	12,031	15,848	15,863	11,293	11,293
Deferred taxes	- 0	- 0	- 0	14,274	21,999	31,836	45,631	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	-	- 0	- 0
Other liabilities	40,920	38,078	31,497	31,365	29,360	29,921	32,559	33,157	33,358	33,366	33,918	33,222	33,909	37,960	40,056	41,332	40,606	44,385	50,226	53,194	53,194
Equity	826,288	1,006,513	1,115,039	1,864,510	1,886,840	1,912,021	2,739,570	2,710,612	2,578,031	2,549,305	2,654,798	2,524,430	2,589,803	2,841,205	2,995,006	2,825,949	2,844,628	2,785,869	3,000,195	2,871,158	2,871,158
Capital stock	890,712	1,035,720	1,035,720	1,035,720	1,035,720	1,035,720	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177	1,847,177
Shares in Treasury	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(1,362)	(1,362)	(4,257)	(5,259)	(6,778)	(8,498)	(8,498)
Capital Reserve	10,516	10,516	10,516	10,516	10,516	10,516	11,647	13,097	14,547	16,013	19,375	20,272	23,198	25,590	27,861	30,261	33,738	34,846	37,641	39,726	39,726
Retained earnings (loss)	(70,882)	(39,675)	65,042	816,479	842,247	861,354	- 0	(55,365)	(247,446)	(275,654)	- 0	(139,401)	(73,628)	166,897	- 0	(152,724)	(150,628)	(212,024)	- 0	(126,347)	(126,347)
Profit Reserve	- 0	- 0	- 0	- 0	- 0	- 0	882,914	882,914	958,902	958,902	792,570	793,432	796,890	800,269	1,121,578	1,121,578	1,121,578	1,121,578	1,122,409	1,122,409	1,122,409
Other comprehensive income (loss)	-4,067	-49	3,759	1,793	(1,644)	4,429	(2,170)	22,787	4,849	2,865	(4,324)	2,950	(3,834)	1,272	(248)	(18,981)	(2,980)	(449)	(254)	(3,309)	(3,309)
Non-controlling interests	9	1	2	2	1	2	2	2	2	2	2	1	2	2	3	-3	-2	3	1	1	1
* Unaudited information

Cash Flow

Índice | Index
Cash Flow (R$ thousand)	12/31/16	12/31/17	3/31/18	6/30/18	9/30/18	12/31/18	3/31/19	6/30/19	9/30/19	12/31/19	3/31/20	6/30/20	9/30/20	12/31/20	3/31/21	6/30/21	9/30/21	12/31/21	3/31/22	6/30/22	9/30/22	12/31/22	3/31/23
Income (loss) before income tax	(204,914)	141,547	(88,483)	(35,946)	3,725	225,550	1,139,044	1,178,579	1,207,624	1,422,026	(88,909)	(374,552)	(426,844)	(255,673)	(207,381)	(102,999)	(185,405)	991	(239,511)	(245,872)	(349,775)	(43,276)	(194,175)
(+)Adjustments to reconcile income taxes to net cash flow:
Allowance for (reversal of) expected credit losses	15,480	(2,258)	2,863	2,214	1,967	318	881	(1,589)	(1,634)	8,377	(98)	(2,136)	3,771	3,213	533	2,749	3,619	5,626	2,816	15,843	38,216	68,527	45,584
Adjustment to present value of accounts receivables and suppliers	2,440	(4,841)	(1,847)	-	-	1,463	(2,056)	-	-	(1,988)	(2,842)	(3,221)	(3,159)	(4,811)	(920)	107	(148)	1,511	646	3,589	(1,219)	(480)	(6,700)
Expenses with stock-based compensation	-	-	-	-	-	-	-	-	-	1,131	1,450	2,900	4,366	7,728	897	3,823	6,215	8,486	2,400	5,877	6,985	9,780	2,085
Provisions for inventory losses	48,308	59,706	11,231	23,437	32,403	41,510	9,030	19,726	21,259	38,836	9,508	11,317	27,655	45,758	6,347	21,603	29,360	52,792	11,012	26,728	40,294	63,139	14,537
Gains from tax proceedings	-	-	-	-	-	-	(1,244,973)	(1,253,332)	(1,271,591)	(1,282,030)	(6,689)	(11,452)	(14,710)	(233,720)	(3,376)	(243,554)	(253,947)	(312,738)	(19,321)	(40,972)	(62,810)	(225,271)	(20,963)
Depreciation and amortization	202,684	197,897	52,685	106.006 (1)	159,515	205,224	55,845	260,596	392,684	233,043	60,237	121,102	182,082	246,332	56,959	116,895	178,503	246,655	80,815	163,553	247,698	295,060	88,158
Impairment reversal of property and equipment, intagible and right-of-use assets	(47,714)	8,849	-	(4,510)	(5,822)	(24,561)	(6,177)	(15,437)	(21,101)	(11,264)	2,924	3,893	(7,071)	(6,150)	-	81	81	(3,900)	(4,414)	(6,408)	(8,207)	(6,141)	(1,354)
Losses on sale or disposal of property and equipment and intagible assets	53,157	20,623	3,282	8.141 (1)	10,047	38,504	5,527	13,898	19,541	19,767	3,455	4,462	7,173	7,591	334	4,448	4,628	4,632	3,634	4,273	6,112	8,594	2,055
Impairment (Reversal) of leases	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(8,075)	- 0	- 0	(2,202)	(6,577)	- 0
Depreciation of right-of-use	-	-	-	-	-	-	73,748	-	-	295,675	74,328	150,261	226,267	306,443	82,134	167,756	252,435	338,325	94,542	189,726	291,115	381,532	94,737
Interest on leases	-	-	-	-	-	-	18,524	37,251	55,126	142,138	34,466	70,825	106,785	139,120	33,599	70,354	107,753	144,151	40,378	80,129	122,762	165,719	40,990
Interest on loans - related parties	96,056	69,318	6,889	15,633	28,527	41,149	11,191	30,748	51,227	60,749	-	-	-	-	-	-	-	-	-	- 0	- 0	- 0	- 0
Interest on loans	-	-	-	-	-	-	-	-	-	-	-	9,720	23,062	35,802	12,838	24,814	49,778	82,181	45,591	118,164	191,040	272,449	74,198
Amortization transaction costs on loans	-	-	-	-	-	-	-	-	-	-	-	438	1,243	2,036	820	1,332	1,856	2,369	487	1,209	3,414	4,247	1,647
Provsions (reversals) for tax, civil and labor proceedings	18,796	50,795	14,219	16,820	22,102	973	8,508	7,755	7,357	(38,047)	(1,473)	5,255	28,654	29,538	(37,791)	6,772	18,323	(5,662)	9,655	14,803	28,690	42,144	12,627
Derivatives	11,767	47,385	2,407	(42,077)	(63,350)	(23,204)	41,344	41,344	41,343	41,343	-	-	-	-	-	-	-	- 0	-	-	- 0	- 0	(1)
Judicial deposits	(2,599)	(2,250)	(463)	(1,434)	(3,662)	(1,353)	(748)	(1,511)	(2,273)	(2,887)	(505)	(877)	(1,387)	(1,421)	(280)	(660)	(1,505)	(2,635)	(1,549)	(6,234)	(8,689)	(10,972)	(2,445)
Foreign exchange differences on loans - related parties	(219,353)	26,262	12,575	94,570	114,647	86,273	(32,370)	(32,371)	(32,371)	(32,372)	-	-	-	-	-	-	-	-	-	-	- 0	- 0	- 0
Financial investment income	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(86)	- 0	(417)	(688)	(959)	(234)
Adjusted Net Income	(25,892)	613,033	15,358	182,854	300,099	591,846	77,318	285,657	467,191	894,497	85,852	(12,065)	157,887	316,401	(55,288)	73,521	211,545	554,623	27,181	323,991	542,736	1,017,515	150,746
Working capital adjustments
Trade receivable	(115,530)	(44,495)	367,817	237,140	268,292	(73,439)	389,913	208,609	312,781	(14,471)	464,058	785,410	472,524	88,917	487,414	210,119	183,887	(98,717)	157,295	(132,271)	366	(206,909)	395,176
Derivatives	368,510	-	-	-	-	-	-	-	-	-	-	-	- 0	-	-	-	-	-
Related parties	(58,945)	2,606	47,392	(26.995) (2)	(10,807)	(14,561)	48,636	(10,900)	8,896	10,433	74,617	(31,991)	(2,044)	(34,521)	30,145	(13,515)	(770)	23,737	42,350	(16,113)	7,060	(14,959)	53,369
Inventories	97,376	(5,770)	(103,198)	(107,999)	(82,056)	(52,697)	(123,618)	(134,792)	(117,562)	(92,939)	(249,027)	(276,883)	(245,108)	(142,061)	(304,343)	(242,987)	(271,093)	(261,041)	(141,513)	(138,400)	(165,981)	(65,903)	(164,441)
Taxes recoverable	51,814	(17,821)	(111,732)	(174,002)	22,712	27,952	(218)	9,594	16,632	23,372	(21,139)	(1,425)	(11,990)	148,488	(75,435)	45,664	56,515	63,822	51,641	119,087	136,725	77,400	86,466
Other Credits	6,170	(1,618)	(11,723)	(13,705)	(10,554)	(1,312)	(9,682)	(12,486)	(18,759)	(2,744)	(18,870)	(14,293)	(14,014)	(2,030)	(20,089)	(8,230)	(26,045)	(10,316)	(32,669)	(47,933)	(16,736)	(5,852)	(7,225)
Redemption of investments in bonds and securities	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	4,459
Judicial deposits	6,686	(1,806)	(12,068)	(36,084)	(39,860)	(50,321)	(2,937)	(4,438)	(7,043)	(4,363)	(866)	(435)	2,925	7,273	2,739	3,316	(9,613)	(8,854)	(67)	354	621	785	(100)
Trade Payables	24,516	74,319	(136,996)	(163,549)	(144,494)	(2,707)	(104,683)	(46,548)	(90,115)	126,507	(177,315)	(403,257)	(77,482)	102,193	(233,268)	(263,840)	(145,837)	(6,004)	(219,999)	(103,674)	(143,243)	135,537	(181,587)
Drawee risk operations	10,567	(122)	235,179	(8,924)	(57,039)	41,111	141,123	(184,195)	(139,013)	(125,600)	9,964	(134,217)
Labor liabilities	15,570	31,278	20,901	(28,303)	(5,192)	(5,857)	12,792	(16,612)	2,390	(2,881)	(4,390)	8,531	16,586	8,469	(24,301)	(4,662)	24,337	20,577	5,837	(27,510)	(12,783)	44,957	6,084
Other liabilities	(37,669)	(3,563)	(13,452)	(13,557)	(14,863)	(1,263)	(18,978)	(13,598)	(12,635)	(15,205)	1,389	19,679	3,412	4,494	5,618	5,905	11,727	6,979	1,132	8,532	23,675	44,377	(12,162)
Provisions for tax, civil and labor proceedings	15,935	(46,186)	(8,623)	(12,404)	(16,331)	(23,194)	(2,221)	(2,391)	(7,966)	(17,556)	(3,116)	(8,083)	(14,026)	(18,785)	(4,057)	(11,970)	(20,308)	(23,870)	(3,873)	(7,459)	(10,696)	(17,989)	(3,555)
Taxes payable	(6,623)	5,912	(36,197)	64,055	(136,849)	(30,496)	(143,483)	(109,475)	(142,990)	(33,815)	(170,859)	(187,937)	(168,374)	(92,849)	(88,695)	(60,535)	(52,443)	80,454	(81,359)	(84,948)	(103,418)	91,221	(194,224)
Income tax paid	1,028	(1,780)	(3,564)	-	(4,517)	(5,415)	(3,277)	(13,293)	(19,291)	(18,947)	(20,442)	(21,352)	(30,233)	(21,905)	(1,806)	(1,806)	(1,806)	(1,806)	(5,186)	(5,186)	(11,835)	(19,770)	(8,604)
Net cahs flows from operating activities	342,946	604,109	13,915	(92,548)	125,580	358,536	119,562	139,327	391,529	851,888	(40,108)	(133,534)	89,942	604,648	(290,290)	(326,059)	1,208	480,707	(383,425)	(250,543)	120,891	1,090,374	(9,815)
Investment Activities	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Purchase of property and equipment	(110,182)	(98,960)	(69,247)	(112,219)	(171,720)	(245,442)	(60,441)	(163,276)	(241,013)	(321,260)	(32,630)	(76,620)	(81,676)	(158,475)	(40,325)	(102,527)	(167,904)	(302,840)	(63,699)	(120,394)	(160,672)	(193,203)	(24,051)
Purchase of intangible assets	225	(25,611)	(959)	(966)	(966)	(29,421)	(46)	- 0	- 0	(46,790)	(101,615)	(32,305)	(104,642)	(163,224)	(268,566)	(114,159)	(171,368)	(228,250)	(278,765)	(49,540)
Receivables from the sale of property and equipment	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	35	86	86	91	82	82	82	82	192	192	362	380	380
Cash flow used in investment activities	(110,182)	(98,735)	(94,858)	(113,178)	(172,686)	(246,408)	(89,862)	(163,276)	(241,013)	(321,306)	(32,595)	(76,534)	(128,380)	(259,999)	(72,548)	(207,087)	(331,046)	(571,324)	(177,666)	(291,570)	(388,560)	(471,588)	(73,211)
Financing Activities	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Capital increase	200,000	145,008	- 0	- 0	- 0	- 0	- 0	- 0	- 0	813,699	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Costs with stock issuing transactions	-	-	-	-	-	-	-	-	- 0	- 0	- 0	1,200,000	1,200,000	1,200,000	- 0	500,000	500,000	515,347	320,110	1,019,293	1,104,678	1,291,249	93,898
Proceeds from new loans with related parties	-	-	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(2,242)	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Proceeds from new loans	322,400	910,420	521,982	835,432	835,432	835,432	388,000	508,000	508,000	508,000	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Loan transaction costs	-	-	-	-	-	-	-	-	- 0	- 0	- 0	(4,994)	(4,994)	(4,994)	(26)	(3,678)	(3,788)	(3,812)	(2,216)	(5,906)	(7,462)	(7,574)	(872)
Repayments of loans	(322,400)	(1,401,647)	(586,195)	(861,721)	(861,721)	(861,721)	(590,588)	(590,588)	(590,588)	(1,373,038)	- 0	- 0	- 0	(11,000)	- 0	(362,500)	(362,500)	(381,500)	-	(104,577)	(190,015)	(590,042)	(86,576)
Interest paid on loans	(98,599)	(78,366)	(10,881)	(18,789)	(27,995)	(43,583)	(9,969)	(36,338)	(36,338)	(70,795)	- 0	- 0	- 0	(10,592)	(5,829)	(21,872)	(21,872)	(51,011)	(28,553)	(62,432)	(94,431)	(194,323)	(11,101)
Settlements of derivaties	(46,203)	(138,440)	39,784	39,784	28,070	28,070	7,625	7,625	7,625	7,625	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Repayments and interest pais on leases	(321)	(287)	(66)	(129)	(192)	(257)	(77,308)	(156,864)	(237,907)	(354,147)	(94,443)	(173,038)	(281,993)	(387,167)	(101,995)	(209,004)	(321,778)	(438,262)	(117,948)	(238,047)	(363,240)	(488,840)	(128,701)
Investments in bonds and securities	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(7,690)	- 0	- 0	- 0	- 0	- 0
Share Buyback	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(1,362)	- 0	(2,895)	(3,897)	(5,416)	(1,720)
Non-controlling	(5)	(8)	- 0	- 0	- 0	1	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Interest on shareholders' equity paid	(12,000)	- 0	(55,823)	(55.823) (2)	(55,823)	(55,823)	(58,582)	(58,582)	(58,582)	(58,581)	- 0	- 0	- 0	(68,846)	(1)	(1)	(1)	(1)	- 0	- 0	- 0	- 0	- 0
Net cash flows obtained from (used in) financing activities	42,872	(563,320)	(91,199)	(61,246)	(82,229)	(97,881)	(340,822)	(326,747)	(407,790)	(529,479)	(94,443)	1,021,968	913,013	717,401	(107,851)	(97,055)	(209,939)	(368,291)	171,393	605,436	445,633	5,054	(135,072)
Increase (Decrease) in cash and cash equivalents	275,636	(57,946)	(172,142)	(266,972)	(129,335)	14,247	(311,122)	(350,696)	(257,274)	1,103	(167,146)	811,900	874,575	1,062,050	(470,688)	(630,201)	(539,777)	(458,908)	(389,698)	63,323	177,964	623,840	(218,098)
* Unaudited Information

Income Statement

Índice | Index
Income Statement (R$ thousand)	1Q18	2Q18	6M18	3Q18	9M18	4Q18	2018	1Q19	2Q19	6M19	3Q19	9M19	4Q19	2019	1Q20	2Q20	6M20	3Q20	9M20	4Q20	2020	1Q21	2Q21	6M21	3Q21	9M21	4Q21	2021	1Q22	2Q22	6M22	3Q22	9M22	4Q22	2022	1Q23
Gross Revenue	1,266,596	1,574,376	2,840,972	1,547,907	4,388,879	2,177,552	6,566,431	1,335,011	1,629,217	2,964,228	1,609,599	4,573,827	2,267,278	6,841,105	1,251,920	374,010	1,625,930	1,378,767	3,004,697	2,264,078	5,268,775	996,807	1,532,248	2,529,055	1,743,197	4,272,253	2,423,643	6,695,896	1,529,666	2,114,251	3,643,917	1,820,430	5,464,347	2,536,007	8,000,354	1,595,365
Tax	(267,690)	(339,085)	(606,775)	(333,719)	(940,494)	(486,823)	(1,427,318)	(294,498)	(368,887)	(663,385)	(367,710)	(1,031,096)	(524,833)	(1,555,929)	(240,699)	(79,511)	(320,210)	(311,511)	(631,721)	(516,614)	(1,148,335)	(220,731)	(356,658)	(577,389)	(403,790)	(981,179)	(561,512)	(1,542,691)	(332,642)	(484,012)	(816,654)	(412,890)	(1,229,544)	(587,261)	(1,816,805)	(354,788)
Net Operational Revenue*	998,906	1,235,291	2,234,197	1,214,188	3,448,385	1,690,729	5,139,114	1,040,513	1,260,330	2,300,843	1,241,889	3,542,732	1,742,444	5,285,176	976,850	294,492	1,271,342	1,067,151	2,338,493	1,746,993	4,085,486	776,075	1,175,590	1,951,665	1,339,407	3,291,072	1,862,133	5,153,205	1,197,024	1,630,240	2,827,264	1,407,540	4,234,804	1,948,746	6,183,550	1,240,577
Apparel	741,068	939,532	1,680,600	931,325	2,611,925	1,354,781	3,966,706	767,075	957,681	1,724,756	974,833	2,699,589	1,426,361	4,125,950	713,687	194,301	907,988	820,644	1,728,632	1,392,420	3,121,052	565,488	951,289	1,516,777	1,085,483	2,602,260	1,601,802	4,204,062	910,790	1,328,848	2,239,638	1,133,894	3,373,532	1,647,540	5,021,072	966,005
Fashiotronics and Beauty	190,400	221,120	411,520	228,728	640,248	275,135	915,383	213,659	235,743	449,402	210,746	660,148	265,751	925,899	191,760	80,819	272,579	228,071	500,650	301,187	801,837	142,893	182,654	325,547	199,760	525,307	231,264	756,571	214,301	241,724	456,025	195,295	651,319	232,093	883,412	191,261
Net Revenue from Merchandise	931,468	1,160,652	2,092,120	1,160,053	3,252,173	1,629,916	4,882,089	980,734	1,193,424	2,174,158	1,185,579	3,359,737	1,692,112	5,051,849	905,447	275,120	1,180,567	1,048,715	2,229,282	1,693,607	3,922,889	708,381	1,133,944	1,842,324	1,285,243	3,127,567	1,833,066	4,960,633	1,125,091	1,570,572	2,695,663	1,329,189	4,024,851	1,879,633	5,904,484	1,157,266
Other Revenue	8,766	1,928	10,694	535	11,229	4,524	15,754	4,474	5,898	10,372	3,843	14,215	2,710	16,925	3,171	3,487	6,658	2,404	9,062	4,276	13,338	5,206	3,965	9,171	4,559	13,730	3,869	17,599	5,599	4,878	10,477	4,945	15,422	6,271	21,693	4,142
Retail Net Revenue	940,234	1,162,580	2,102,814	1,160,588	3,263,402	1,634,440	4,897,843	985,208	1,199,322	2,184,530	1,189,422	3,373,952	1,694,822	5,068,774	908,618	278,607	1,187,225	1,051,119	2,238,344	1,697,883	3,936,227	713,587	1,137,909	1,851,495	1,289,802	3,141,297	1,836,935	4,978,232	1,130,690	1,575,450	2,706,140	1,334,134	4,040,273	1,885,904	5,926,177	1,161,408
Financial Services	58,672	72,711	131,383	53,600	184,982	56,289	241,271	55,305	61,008	116,313	52,467	168,780	47,622	216,402	68,232	15,885	84,117	16,032	100,149	49,110	149,259	62,488	37,682	100,170	49,605	149,775	25,199	174,974	66,335	54,790	121,125	73,406	194,531	62,842	257,373	79,169
Cost of sales and services rendered*	(527,375)	(611,079)	(1,138,454)	(631,830)	(1,770,284)	(819,687)	(2,589,971)	(539,080)	(640,187)	(1,179,267)	(654,032)	(1,833,299)	(883,766)	(2,717,065)	(500,519)	(151,237)	(651,756)	(612,126)	(1,263,881)	(924,978)	(2,188,859)	(425,079)	(627,154)	(1,052,233)	(740,069)	(1,792,302)	(963,596)	(2,755,897)	(629,605)	(793,784)	(1,423,389)	(713,691)	(2,137,079)	(940,362)	(3,077,441)	(616,056)
Gross Profit	471,531	624,212	1,095,743	582,358	1,678,101	871,042	2,549,142	501,433	620,143	1,121,576	587,857	1,709,433	858,678	2,568,111	476,331	143,255	619,586	455,025	1,074,612	822,015	1,896,627	350,996	548,437	899,432	599,338	1,498,771	898,538	2,397,308	567,419	836,456	1,403,875	693,850	2,097,725	1,008,384	3,106,109	624,521
Apparel	365,091	498,205	863,296	469,821	1,333,117	749,329	2,082,446	394,849	506,293	901,142	489,177	1,390,319	764,106	2,154,425	373,062	106,779	479,841	395,871	875,712	726,372	1,602,084	262,502	485,851	748,353	535,174	1,283,528	839,879	2,123,406	464,456	743,265	1,207,721	586,817	1,794,538	911,210	2,705,748	512,794
Fashiotronics and Beauty	53,565	67,230	120,795	70,949	191,744	77,997	269,741	52,924	57,421	110,345	51,338	161,683	63,492	225,175	40,875	19,473	60,348	56,905	117,253	62,886	180,139	26,311	36,494	62,805	33,820	96,625	50,415	147,040	41,872	52,120	93,992	48,321	142,313	51,588	193,901	43,535
Gross Profit from Merchandise	418,655	565,436	984,091	540,770	1,524,861	827,326	2,352,187	447,773	563,714	1,011,487	540,515	1,552,002	827,598	2,379,600	413,937	126,252	540,189	452,776	992,965	789,258	1,782,223	288,813	522,346	811,159	568,994	1,380,153	890,294	2,270,447	506,328	795,385	1,301,713	635,138	1,936,851	962,798	2,899,649	556,329
Other Gross Profit	(5,329)	(13,537)	(18,867)	(11,634)	(30,500)	(12,219)	(42,719)	(1,305)	(4,261)	(5,566)	(4,812)	(10,378)	(16,238)	(26,616)	(5,538)	1,367	(4,171)	(13,550)	(17,721)	(16,118)	(33,839)	(67)	(11,371)	(11,437)	(19,052)	(30,489)	(15,640)	(46,129)	(5,118)	(13,054)	(18,172)	(14,320)	(32,492)	(16,889)	(49,381)	(10,648)
Retail Gross Profit	413,326	551,899	965,224	529,136	1,494,361	815,107	2,309,468	446,468	559,453	1,005,921	535,703	1,541,624	811,360	2,352,984	408,399	127,619	536,018	439,226	975,244	773,140	1,748,384	288,746	510,975	799,722	549,942	1,349,664	874,654	2,224,318	501,210	782,331	1,283,541	620,818	1,904,359	945,909	2,850,268	545,681
Financial Produts	58,205	72,314	130,519	53,221	183,741	55,935	239,675	54,965	60,690	115,655	52,153	167,808	47,319	215,127	67,932	15,636	83,568	15,798	99,366	48,875	148,241	62,249	37,461	99,711	49,396	149,107	23,884	172,990	66,209	54,125	120,334	73,032	193,366	62,475	255,841	78,840
Operating (expenses) income	(535,662)	(517,007)	(1,052,669)	(520,616)	(1,573,285)	(619,637)	(2,192,922)	109,414	(548,015)	(438,601)	(529,974)	(968,575)	(566,452)	(1,535,027)	(526,250)	(387,740)	(913,990)	(494,227)	(1,408,217)	(652,648)	(2,060,865)	(520,090)	(462,696)	(982,786)	(639,956)	(1,622,742)	(681,768)	(2,304,510)	(738,362)	(747,198)	(1,485,560)	(696,211)	(2,181,771)	(656,158)	(2,837,929)	(717,716)
General and Admnistrative expenses*	(133,891)	(105,992)	(239,883)	(115,194)	(355,077)	(111,438)	(466,515)	(102,081)	(94,592)	(196,673)	(93,217)	(289,890)	(110,519)	(400,409)	(84,282)	(84,902)	(169,184)	(89,322)	(258,506)	(129,401)	(387,907)	(50,417)	(101,936)	(152,353)	(104,788)	(257,141)	(106,096)	(363,237)	(122,344)	(114,410)	(236,754)	(109,138)	(345,892)	(139,696)	(485,588)	(111,472)
Selling expenses*	(399,600)	(411,131)	(810,731)	(405,580)	(1,216,311)	(499,288)	(1,715,599)	(298,763)	(333,017)	(631,780)	(321,955)	(953,735)	(397,416)	(1,351,151)	(310,064)	(172,834)	(482,898)	(305,002)	(787,900)	(439,386)	(1,227,288)	(344,324)	(348,535)	(692,858)	(409,895)	(1,102,753)	(492,881)	(1,595,634)	(446,514)	(464,925)	(911,439)	(427,145)	(1,338,584)	(476,853)	(1,815,437)	(393,266)
Net credit losses	- 0	- 0	- 0	- 0	- 0	(492)	(492)	(1,194)	(12,192)	(13,386)	(20,847)	(34,233)	(30,038)	(64,271)	(44,124)
Depreciation and amortization	(2,171)	116	(2,055)	158	(1,897)	(8,911)	(10,808)	639,851	10,598	650,449	17,286	667,735	50,594	718,329	(3,817)	(420)	(4,237)	30,167	25,930	53,346	79,276	6,378	125,772	132,150	13,359	145,509	63,986	209,495	(1,404)	13,703	12,299	37,492	49,791	119,463	169,254	5,591
Other net operating income (expenses)	(129,593)	(131,004)	(260,597)	(132,088)	(392,685)	(109,111)	(501,796)	(128,087)	(129,584)	(257,671)	(130,070)	(387,741)	(137,207)	(524,946)	(131,727)	(137,997)	(269,724)	(138,632)	(408,356)	(146,285)	(554,641)	(166,905)	(169,376)	(336,281)	(176,572)	(512,853)	(129,034)	(641,887)	(174,445)
Operating profit	(64,131)	107,205	43,074	61,742	104,816	251,405	356,221	610,847	72,128	682,975	57,883	740,858	292,226	1,033,084	(49,919)	(244,485)	(294,404)	(39,202)	(333,605)	169,367	(164,238)	(169,093)	85,739	(83,353)	(40,619)	(123,971)	216,770	92,798	(170,943)	89,259	(81,684)	(2,362)	(84,046)	352,226	268,180	(93,195)
Gain (loss) from derivative	(24,364)	(54,666)	(79,030)	(22,060)	(101,091)	(29,580)	(130,671)	528,197	(32,594)	495,603	(28,837)	466,766	(77,824)	388,942	(38,990)	(41,157)	(80,148)	(13,091)	(93,239)	1,804	(91,435)	(38,288)	18,643	(19,644)	(41,788)	(61,431)	(30,374)	(91,807)	(68,568)	(95,620)	(164,189)	(101,541)	(265,729)	(45,727)	(311,456)	(100,979)
Financial Results	(2,408)	44,489	42,081	15,256	57,337	(40,145)	17,192	(26,054)	- 0	(26,054)	- 0	(26,054)	- 0	(26,054)	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Foreign exchange variation	(14,341)	(91,023)	(105,364)	(22,051)	(127,415)	28,945	(98,470)	30,841	53	30,894	(278)	30,616	(1,054)	29,562	(12,436)	(274)	(12,710)	(211)	(12,921)	1,221	(11,700)	(1,600)	2,886	1,286	(1,902)	(616)	(76)	(691)	3,749	(2,521)	1,228	(1,169)	59	265	324	(683)
Total Finance Expenses	(22,586)	(19,878)	(42,464)	(24,330)	(66,795)	(28,601)	(95,396)	(43,579)	(51,912)	(95,491)	(52,990)	(148,481)	(107,356)	(255,837)	(44,980)	(55,733)	(100,714)	(61,114)	(161,828)	(52,252)	(214,080)	(53,014)	(55,123)	(108,135)	(73,443)	(181,578)	(85,725)	(267,305)	(110,332)	(144,805)	(255,138)	(174,331)	(429,468)	(171,871)	(601,339)	(168,923)
Interest on related party loans	(6,889)	(8,764)	(15,653)	(12,926)	(28,579)	(12,570)	(41,149)	(11,191)	(19,557)	(30,748)	(20,478)	(51,226)	(9,523)	(60,749)	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	- 0	-	-	- 0
Interest on loans	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(9,720)	(9,720)	(13,342)	(23,062)	(12,743)	(35,805)	(12,838)	(11,976)	(24,814)	(24,963)	(49,778)	(31,680)	(81,458)	(40,759)	(64,697)	(105,456)	(85,550)	(191,006)	(81,360)	(272,366)	(74,198)
Interests on Leases	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(18,524)	(18,727)	(37,251)	(17,875)	(55,126)	(82,352)	(137,478)	(32,823)	(34,634)	(67,458)	(33,912)	(101,369)	(30,421)	(131,790)	(31,755)	(34,524)	(66,279)	(35,105)	(101,384)	(34,027)	(135,412)	(38,332)	(37,590)	(75,922)	(40,407)	(116,329)	(40,209)	(156,538)	(37,959)
Bank expenses and IOF	(8,099)	(7,917)	(16,016)	(4,821)	(20,837)	(6,966)	(27,803)	(7,559)	(7,292)	(14,851)	(6,673)	(21,524)	(6,694)	(28,218)	(5,834)	(6,606)	(12,440)	(10,477)	(22,917)	(4,245)	(27,162)	(3,594)	(3,468)	(7,062)	(3,359)	(10,422)	(4,040)	(14,462)	(3,639)	(5,024)	(8,663)	(7,006)	(15,669)	(6,078)	(21,747)	(6,212)
Interests on taxes and contingencies	(6,412)	(2,149)	(8,561)	(5,967)	(14,529)	(8,603)	(23,132)	(4,327)	(5,411)	(9,738)	(6,920)	(16,658)	(8,325)	(24,983)	(5,813)	(3,936)	(9,749)	(2,148)	(11,897)	(3,480)	(15,377)	(3,507)	(4,149)	(7,656)	(8,235)	(15,891)	(12,713)	(28,604)	(18,233)	(20,455)	(38,688)	(24,103)	(62,791)	(25,820)	(88,611)	(27,891)
Financial expenses of Suppliers - PVA	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(7,851)	(13,851)	(21,702)	(16,296)	(37,998)	(16,330)	(54,328)	(17,861)
Interest from supplier	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(1,545)	(1,545)	(1,545)
Other	(1,186)	(1,048)	(2,234)	-	(2,850)	(462)	(3,312)	(1,978)	(925)	(2,903)	(1,044)	(3,947)	(462)	(4,409)	(510)	(837)	(1,347)	(1,236)	(2,583)	(1,363)	(3,946)	(1,319)	(1,005)	(2,324)	(1,780)	(4,104)	(3,265)	(7,369)	(1,517)	(3,189)	(4,707)	(970)	(5,676)	(529)	(6,204)	(3,256)
Total Finance Revenue	14,971	11,746	26,717	9,065	35,782	10,221	46,003	566,989	19,265	586,254	24,431	610,685	30,586	641,271	18,426	14,850	33,276	48,234	81,510	52,835	134,345	16,326	70,880	87,205	33,557	120,763	55,427	176,189	38,015	51,706	89,721	73,959	163,680	125,879	289,559	68,626
Interests	7,468	2,271	9,739	7,619	17,358	(3,019)	14,339	561,409	12,140	573,549	16,785	590,334	18,782	609,116	6,017	6,019	12,036	37,707	49,743	42,684	92,427	6,378	63,843	70,221	20,437	90,658	35,723	126,381	21,309	28,702	50,011	34,436	84,447	84,195	168,642	24,637
Interests on financial investments	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	3,405	7,521	10,926	6,588	17,514	6,341	23,855	6,155	4,809	10,963	11,101	22,064	15,304	37,368	13,948	21,101	35,049	37,478	72,527	39,135	111,662	42,783
Financial income of supplier	5,759	8,040	13,799	5,188	18,987	5,445	24,432	6,278	6,743	13,021	7,569	20,590	11,140	31,730	8,585	875	9,460	3,712	13,172	3,797	16,969	3,599	2,365	5,964	2,117	8,081	4,358	12,438	2,757	1,899	4,656	2,044	6,700	2,548	9,248	1,207
Other	1,744	1,435	3,179	(3,742)	(563)	7,795	7,232	(698)	382	(316)	77	(239)	664	425	419	436	855	226	1,081	13	1,094	194	(137)	57	(97)	(40)	42	2	1	3	4	1	5	1	7	1
Income before taxes	(88,495)	52,539	(35,956)	39,682	3,725	221,825	225,550	1,139,044	39,534	1,178,578	29,046	1,207,624	214,402	1,422,026	(88,909)	(285,642)	(374,552)	(52,293)	(426,844)	171,171	(255,673)	(207,381)	104,382	(102,997)	(82,407)	(185,402)	186,397	991	(239,511)	(6,361)	(245,872)	(103,903)	(349,775)	306,499	(43,276)	(194,175)
Income taxes	28,682	(23,249)	5,433	(7,571)	(2,138)	(49,776)	(51,914)	(387,608)	(13,766)	(401,374)	(9,938)	(411,312)	(38,721)	(450,033)	33,545	93,562	127,106	24,085	151,190	(61,849)	89,341	68,841	(35,150)	33,691	326,311	360,002	(31,984)	328,018	86,781	8,460	95,241	42,510	137,751	(93,646)	44,105	67,828
Net Income (loss) for the period	(59,813)	29,290	(30,523)	32,111	1,587	172,049	173,636	751,436	25,768	777,204	19,108	796,312	175,681	971,993	(55,364)	(192,080)	(247,446)	(28,208)	(275,654)	109,322	(166,332)	(138,540)	69,232	(69,307)	243,904	174,598	154,413	329,009	(152,730)	2,099	(150,631)	(61,393)	(212,024)	212,853	829	(126,347)
Net Margin	-6.0%	2.4%	-1.4%	2.6%	0.0%	10.2%	3.4%	72.2%	2.0%	33.8%	1.5%	22.5%	10.1%	18.4%	-5.7%	-65.2%	-19.5%	-2.6%	-11.8%	6.3%	-4.1%	-17.9%	5.9%	-3.6%	18.2%	5.3%	8.3%	6.4%	-12.8%	0.1%	-5.3%	-4.4%	-5.0%	10.9%	0.0%	-10.2%
Depreciation and amortization	52,685	53,321	106,006	53,509	159,515	45,576	205,091	129,593	131,003	260,596	132,087	392,683	109,113	501,796	128,087	129,585	257,672	130,068	387,740	137,206	524,946	131,727	137,997	269,724	138,632	408,356	146,285	554,641	166,904	169,376	336,280	176,572	512,852	129,035	641,887	174,445
EBITDA	(11,446)	160,526	149,080	115,251	264,331	296,981	561,312	740,440	203,131	943,571	189,970	1,133,541	401,339	1,534,880	78,168	(114,900)	(36,732)	90,866	54,135	306,573	360,708	(37,365)	223,736	186,371	98,013	284,385	363,055	647,439	(4,038)	258,635	254,596	174,210	428,807	481,260	910,067	81,250
(+/-) Other Net operating income (expenses)	2,171	(116)	2,055	(158)	1,897	8,911	10,808	(2,132)	(10,723)	(12,855)	(12,515)	(25,370)	(50,919)	(76,289)	4,335	11,578	15,913	21,171	37,081	40,862	77,943	(1,948)	47,495	45,546	(6,323)	39,223	(20,315)	18,909	4,941	2,518	7,459	10,222	17,681	13,447	31,128	1,002
(+) Expenses with Controlling Shareholder	966	1,135	2,101	995	3,096	906	4,002	1,369	1,234	2,603	547	3,150	- 0	3,150	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	-	-	-	- 0
(+) Royalties Expenses	- 0	- 0	- 0	- 0	- 0	34,365	34,365	5,647	7,385	13,032	7,551	20,583	11,370	31,953	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	-	-	-	- 0
(+) Financial Income of Supplier	5,760	8,039	13,799	5,188	18,987	5,445	24,432	6,278	6,743	13,021	7,572	20,593	11,137	31,730	8,585	875	9,460	3,712	13,172	3,797	16,969	3,599	2,365	5,964	2,117	8,081	4,358	12,438	2,757	1,899	4,656	2,044	6,700	2,547	9,247	1,207
(-) Tax Credit Recovery	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(637,719)	125	(637,594)	(4,771)	(642,365)	325	(642,040)	(518)	(11,158)	(11,676)	(51,341)	(63,017)	(94,202)	(157,219)	(4,358)	(173,339)	(177,697)	(7,036)	(184,733)	(43,671)	(228,404)	(3,537)	(17,207)	(20,744)	(46,729)	(67,473)	(132,909)	(200,382)	(6,593)
Adjusted EBITDA	(2,549)	169,584	167,035	121,276	288,311	346,608	634,919	113,883	207,895	321,778	188,354	510,132	373,252	883,384	90,570	(113,605)	(23,035)	64,408	41,371	257,030	298,401	(40,073)	100,257	60,184	86,771	146,956	303,426	450,383	122	245,845	245,967	139,747	385,715	364,345	750,060	76,866
Adjusted EBITDA / Net Operational Revenue	-0.3%	13.7%	7.5%	10.0%	8.4%	20.5%	12.4%	10.9%	16.5%	14.0%	15.2%	14.4%	21.4%	16.7%	9.3%	-38.6%	-1.8%	6.0%	1.8%	14.7%	7.3%	-5.2%	8.5%	3.1%	6.5%	4.5%	16.3%	8.7%	0.0%	15.1%	8.7%	9.9%	9.1%	18.7%	12.1%	6.2%
Adjusted EBITDA / Net Revenue from Merchandise	-0.3%	14.6%	8.0%	10.5%	8.9%	21.3%	13.0%	11.6%	17.4%	14.8%	15.9%	15.2%	22.1%	17.5%	10.0%	-41.3%	-2.0%	6.1%	1.9%	15.2%	7.6%	-5.7%	8.8%	3.3%	6.8%	4.7%	16.6%	9.1%	0.0%	15.7%	9.1%	10.5%	9.6%	19.4%	12.7%	6.6%
* Changes in accounting classifications as of January 2018
Unaudited Information

Income Statement (PRE IFRS16)

Índice | Index
Income Statement (R$ thousand)	1Q18	2Q18	6M18	3Q18	9M18	4Q18	2018	1Q19***	2Q19	6M19***	3Q19	9M19***	4Q19	2019***	1Q20	2Q20	6M20	3Q20	9M20	4Q20	2020	1Q21	2Q21	6M21	3Q21	9M21	4Q21	2021	1Q22	2Q22	6M22	3Q22	9M22	4Q22	2022	1Q23
Gross Revenue	1,266,596	1,574,376	2,840,972	1,547,907	4,388,879	2,177,552	6,566,431	1,335,011	1,629,217	2,964,228	1,609,599	4,573,827	2,267,278	6,841,105	1,251,920	374,010	1,625,930	1,378,767	3,004,697	2,264,078	5,268,775	996,807	1,532,248	2,529,055	1,743,197	4,272,253	2,423,643	6,695,896	1,529,666	2,114,251	3,643,917	1,820,430	5,464,347	2,536,007	8,000,354	1,595,365
Tax	(267,690)	(339,085)	(606,775)	(333,719)	(940,494)	(486,823)	(1,427,318)	(294,498)	(368,887)	(663,385)	(367,710)	(1,031,096)	(524,833)	(1,555,929)	(240,699)	(79,511)	(320,210)	(311,511)	(631,721)	(516,614)	(1,148,335)	(220,731)	(356,658)	(577,389)	(403,790)	(981,179)	(561,512)	(1,542,691)	(332,642)	(484,012)	(816,654)	(412,890)	(1,229,544)	(587,261)	(1,816,805)	(354,788)
Net Operational Revenue*	998,906	1,235,291	2,234,197	1,214,188	3,448,385	1,690,729	5,139,114	1,040,513	1,260,330	2,300,843	1,241,889	3,542,732	1,742,444	5,285,176	976,850	294,492	1,271,342	1,067,151	2,338,493	1,746,993	4,085,486	776,075	1,175,590	1,951,665	1,339,407	3,291,072	1,862,133	5,153,205	1,197,024	1,630,240	2,827,264	1,407,540	4,234,804	1,948,746	6,183,550	1,240,577
Apparel	741,068	939,532	1,680,600	931,325	2,611,925	1,354,781	3,966,706	767,075	957,681	1,724,756	974,833	2,699,589	1,426,361	4,125,950	713,687	194,301	907,988	820,644	1,728,632	1,392,420	3,121,052	565,488	951,289	1,516,777	1,085,483	2,602,260	1,601,802	4,204,062	910,790	1,328,848	2,239,638	1,133,894	3,373,532	1,647,540	5,021,072	966,005
Fashiotronics and Beauty	190,400	221,120	411,520	228,728	640,248	275,135	915,383	213,659	235,743	449,402	210,746	660,148	265,751	925,899	191,760	80,819	272,579	228,071	500,650	301,187	801,837	142,893	182,654	325,547	199,760	525,307	231,264	756,571	214,301	241,724	456,025	195,296	651,321	232,093	883,412	191,261
Net Revenue from Merchandise	931,468	1,160,652	2,092,120	1,160,053	3,252,173	1,629,916	4,882,089	980,734	1,193,424	2,174,158	1,185,579	3,359,737	1,692,112	5,051,849	905,447	275,120	1,180,567	1,048,715	2,229,282	1,693,607	3,922,889	708,381	1,133,944	1,842,324	1,285,243	3,127,567	1,833,066	4,960,633	1,125,091	1,570,572	2,695,663	1,329,190	4,024,853	1,879,633	5,904,484	1,157,266
Other Revenue	8,766	1,928	10,694	535	11,229	4,524	15,754	4,474	5,898	10,372	3,843	14,215	2,710	16,925	3,171	3,487	6,658	2,404	9,062	4,276	13,338	5,206	3,965	9,171	4,559	13,730	3,869	17,599	5,599	4,878	10,477	4,945	15,422	6,271	21,693	4,142
Retail Net Revenue	940,234	1,162,580	2,102,814	1,160,588	3,263,402	1,634,440	4,897,843	985,208	1,199,322	2,184,530	1,189,422	3,373,952	1,694,822	5,068,774	908,618	278,607	1,187,225	1,051,119	2,238,344	1,697,883	3,936,227	713,587	1,137,909	1,851,495	1,289,802	3,141,297	1,836,935	4,978,232	1,130,690	1,575,450	2,706,140	1,334,135	4,040,275	1,885,904	5,926,177	1,161,408
Financial Services	58,672	72,711	131,383	53,600	184,982	56,289	241,271	55,305	61,008	116,313	52,467	168,780	47,622	216,402	68,232	15,885	84,117	16,032	100,149	49,110	149,259	62,488	37,682	100,170	49,605	149,775	25,199	174,974	66,335	54,790	121,125	73,405	194,530	62,842	257,373	79,169
Cost of sales and services rendered*	(527,375)	(611,079)	(1,138,454)	(631,830)	(1,770,284)	(819,687)	(2,589,971)	(539,080)	(640,187)	(1,179,267)	(654,032)	(1,833,299)	(883,766)	(2,717,065)	(500,519)	(151,237)	(651,756)	(612,126)	(1,263,881)	(924,978)	(2,188,859)	(425,079)	(627,154)	(1,052,233)	(740,069)	(1,792,302)	(963,596)	(2,755,897)	(629,605)	(793,784)	(1,423,389)	(713,690)	(2,137,079)	(940,362)	(3,077,441)	(616,056)
Gross Profit	471,531	624,212	1,095,743	582,358	1,678,101	871,042	2,549,142	501,433	620,143	1,121,576	587,857	1,709,433	858,678	2,568,111	476,331	143,255	619,586	455,025	1,074,612	822,015	1,896,627	350,996	548,437	899,432	599,338	1,498,771	898,538	2,397,308	567,419	836,456	1,403,875	693,850	2,097,725	1,008,384	3,106,109	624,521
Apparel	365,091	498,205	863,296	469,821	1,333,117	749,329	2,082,446	394,849	506,293	901,142	489,177	1,390,319	764,106	2,154,425	373,062	106,779	479,841	395,871	875,712	726,372	1,602,084	262,502	485,851	748,353	535,174	1,283,528	839,879	2,123,406	464,456	743,265	1,207,721	586,817	1,794,538	911,210	2,705,748	512,794
Fashiotronics and Beauty	53,565	67,230	120,795	70,949	191,744	77,997	269,741	52,924	57,421	110,345	51,338	161,683	63,492	225,175	40,875	19,473	60,348	56,905	117,253	62,886	180,139	26,311	36,494	62,805	33,820	96,625	50,415	147,040	41,872	52,120	93,992	48,321	142,313	51,588	193,901	43,535
Gross Profit from Merchandise	418,655	565,436	984,091	540,770	1,524,861	827,326	2,352,187	447,773	563,714	1,011,487	540,515	1,552,002	827,598	2,379,600	413,937	126,252	540,189	452,776	992,965	789,258	1,782,223	288,813	522,346	811,159	568,994	1,380,153	890,294	2,270,447	506,328	795,385	1,301,713	635,138	1,936,851	962,798	2,899,649	556,329
Other Gross Profit	(5,329)	(13,537)	(18,867)	(11,634)	(30,500)	(12,219)	(42,719)	(1,305)	(4,261)	(5,566)	(4,812)	(10,378)	(16,238)	(26,616)	(5,538)	1,367	(4,171)	(13,550)	(17,721)	(16,118)	(33,839)	(67)	(11,371)	(11,437)	(19,052)	(30,489)	(15,640)	(46,129)	(5,118)	(13,054)	(18,172)	(14,320)	(32,492)	(16,889)	(49,381)	(10,648)
Retail Gross Profit	413,326	551,899	965,224	529,136	1,494,361	815,107	2,309,468	446,468	559,453	1,005,921	535,703	1,541,624	811,360	2,352,984	408,399	127,619	536,018	439,226	975,244	773,140	1,748,384	288,746	510,975	799,722	549,942	1,349,664	874,654	2,224,318	501,210	782,331	1,283,541	620,818	1,904,359	945,909	2,850,268	545,681
Financial Produts	58,205	72,314	130,519	53,221	183,741	55,935	239,675	54,965	60,690	115,655	52,153	167,808	47,319	215,127	67,932	15,636	83,568	15,798	99,366	48,875	148,241	62,249	37,461	99,711	49,396	149,107	23,884	172,990	66,209	54,125	120,334	73,032	193,366	62,475	255,841	78,840
Operating (expenses) income	(535,662)	(517,007)	(1,052,669)	(520,616)	(1,573,285)	(619,637)	(2,192,922)	(531,867)	(554,217)	(1,086,084)	(543,013)	(1,629,097)	(601,781)	(2,230,878)	(544,723)	(406,418)	(951,140)	(515,611)	(1,466,751)	(672,433)	(2,139,184)	(538,982)	(483,601)	(1,022,583)	(663,082)	(1,685,665)	(707,714)	(2,393,379)	(762,652)	(769,038)	(1,531,690)	(716,754)	(2,248,444)	(692,605)	(2,941,049)	(749,428)
General and Admnistrative expenses*	(108,323)	(100,841)	(209,164)	(99,578)	(308,742)	(117,009)	(425,751)	(90,735)	(91,371)	(182,106)	(96,190)	(278,296)	(136,311)	(414,607)	(53,486)	(108,832)	(162,318)	(112,019)	(274,337)	(117,311)	(391,647)	(132,041)	(120,366)	(252,407)	(116,435)	(368,842)	(148,315)	(517,157)	(119,603)
Selling expenses*	(369,830)	(406,324)	(776,154)	(396,638)	(1,172,792)	(475,582)	(1,648,374)	(389,910)	(253,788)	(643,698)	(388,602)	(1,032,300)	(525,218)	(1,557,519)	(434,915)	(440,604)	(875,519)	(502,811)	(1,378,330)	(583,646)	(1,961,977)	(544,067)	(567,105)	(1,111,172)	(533,266)	(1,644,438)	(584,385)	(2,228,823)	(502,018)
Net credit losses	(492)	(492)	(1,194)	(12,192)	(13,386)	(20,847)	(34,233)	(30,038)	(64,271)	(44,124)
Depreciation and amortization	(2,171)	116	(2,055)	158	(1,897)	(8,911)	(10,808)	2,132	10,723	12,855	12,515	25,370	50,920	76,290	(3,817)	(420)	(4,237)	30,164	25,927	53,349	79,276	6,378	125,772	132,150	13,359	145,509	61,884	207,392	(4,534)	13,362	8,828	37,940	46,768	117,494	164,262	4,475
Other net operating income (expenses)	(55,846)	(57,775)	(113,621)	(59,312)	(172,933)	(60,110)	(233,043)	(60,261)	(60,839)	(121,100)	(60,983)	(182,083)	(64,250)	(246,332)	(56,959)	(59,936)	(116,895)	(61,611)	(178,506)	(68,149)	(246,655)	(80,816)	(82,738)	(163,554)	(84,145)	(247,699)	(47,361)	(295,060)	(88,158)
Operating profit	(64,131)	107,205	43,074	61,742	104,816	251,405	356,221	(30,434)	65,926	35,492	44,844	80,336	256,897	337,233	(68,392)	(263,163)	(331,554)	(60,586)	(392,141)	149,582	(242,559)	(187,987)	64,835	(123,151)	(63,743)	(186,894)	190,826	3,929	(195,233)	67,418	(127,815)	(22,903)	(150,718)	315,778	165,059	(124,907)
Gain (loss) from derivative	(24,364)	(54,666)	(79,030)	(22,060)	(101,091)	(29,580)	(130,671)	(14,183)	(21,837)	(34,124)	(23,733)	(57,857)	(5,454)	(63,311)	(6,167)	(6,523)	(12,690)	20,819	8,128	32,228	40,356	(6,534)	53,166	46,634	(6,683)	39,954	3,653	43,605	(30,235)	(58,031)	(88,266)	(61,133)	(149,399)	(5,518)	(154,918)	(63,019)
Financial Results	(2,408)	44,489	42,081	15,256	57,337	(40,145)	17,192	(26,054)	- 0	(26,054)	- 0	(26,054)	- 0	(26,054)	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0
Foreign exchange variation	(14,341)	(91,023)	(105,364)	(22,051)	(127,415)	28,945	(98,470)	28,945	53	30,894	(278)	30,616	(1,054)	29,562	(12,436)	(274)	(12,710)	(211)	(12,921)	1,221	(11,700)	(1,600)	2,886	1,286	(1,902)	(616)	(76)	(691)	3,749	(2,521)	1,228	(1,169)	59	265	324	(683)
Total Finance Expenses	(22,586)	(19,878)	(42,464)	(24,330)	(66,795)	(28,601)	(95,396)	(25,055)	(33,185)	(58,240)	(35,115)	(93,355)	(25,004)	(118,359)	(12,157)	(21,099)	(33,256)	(27,204)	(60,461)	(21,834)	(82,295)	(21,259)	(20,599)	(41,856)	(38,338)	(80,192)	(51,698)	(131,893)	(71,999)	(107,216)	(179,215)	(133,924)	(313,139)	(131,662)	(444,801)	(130,963)
Interest on related party loans	(6,889)	(8,764)	(15,653)	(12,926)	(28,579)	(12,570)	(41,149)	(11,191)	(19,557)	(30,748)	(20,478)	(51,226)	(9,523)	(60,749)	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	-	-	-	- 0
Interest on loans	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	-	-	(9,720)	(9,720)	(13,343)	(23,063)	(12,743)	(35,806)	(12,838)	(11,976)	(24,814)	(24,963)	(49,777)	(31,680)	(81,458)	(40,759)	(64,697)	(105,456)	(85,550)	(191,006)	(81,360)	(272,366)	(74,198)
Interests on Leases	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	-	-	-	- 0
Bank expenses and IOF	(8,099)	(7,917)	(16,016)	(4,821)	(20,837)	(6,966)	(27,803)	(7,559)	(7,292)	(14,851)	(6,673)	(21,524)	(6,694)	(28,218)	(5,834)	(6,606)	(12,440)	(10,476)	(22,916)	(4,245)	(27,161)	(3,594)	(3,468)	(7,062)	(3,359)	(10,421)	(4,040)	(14,462)	(3,639)	(5,024)	(8,663)	(7,006)	(15,669)	(6,078)	(21,747)	(6,212)
Interests on taxes and contingencies	(6,412)	(2,149)	(8,561)	(5,967)	(14,529)	(8,603)	(23,132)	(4,327)	(5,411)	(9,738)	(6,920)	(16,658)	(8,325)	(24,983)	(5,813)	(3,936)	(9,749)	(2,148)	(11,897)	(3,480)	(15,377)	(3,507)	(4,149)	(7,656)	(8,235)	(15,891)	(12,713)	(28,604)	(18,233)	(20,455)	(38,688)	(24,103)	(62,791)	(25,820)	(88,611)	(27,891)
Financial expenses of Suppliers - PVA	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(7,850)	(13,851)	(21,701)	(16,296)	(37,997)	(16,330)	(54,328)	(17,861)
Interest from supplier	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(1,545)	(1,545)	(1,545)
Other	(1,186)	(1,048)	(2,234)	-	(2,850)	(462)	(3,312)	(1,978)	(925)	(2,903)	(1,044)	(3,947)	(462)	(4,409)	(510)	(837)	(1,347)	(1,237)	(2,585)	(1,366)	(3,951)	(1,320)	(1,005)	(2,324)	(1,780)	(4,104)	(3,265)	(7,369)	(1,517)	(3,189)	(4,707)	(970)	(5,676)	(529)	(6,204)	(3,256)
Total Finance Revenue	14,971	11,746	26,717	9,065	35,782	10,221	46,003	7,981	11,295	19,276	11,660	30,936	20,604	51,540	18,426	14,850	33,276	48,234	81,510	52,841	134,351	16,325	70,879	87,204	33,557	120,762	55,427	176,189	38,015	51,706	89,721	73,960	163,681	125,879	289,559	68,627
Interests	7,468	2,271	9,739	7,619	17,358	(3,019)	14,339	2,401	4,170	6,571	4,014	10,585	8,800	19,385	9,422	13,539	22,961	44,295	67,256	49,025	116,281	12,532	68,651	81,183	20,437	101,620	24,760	126,381	21,309	28,702	50,011	34,436	84,447	84,195	168,642	24,637
Interests on financial investments	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	11,101	11,101	26,267	37,368	13,948	21,101	35,049	37,478	72,527	39,135	111,662	42,783
Financial income of supplier	5,759	8,040	13,799	5,188	18,987	5,445	24,432	6,278	6,743	13,021	7,569	20,590	11,140	31,730	8,585	875	9,460	3,712	13,172	3,797	16,969	3,599	2,365	5,964	2,117	8,081	4,358	12,438	2,757	1,899	4,656	2,044	6,700	2,548	9,248	1,207
Other	1,744	1,435	3,179	(3,742)	(563)	7,795	7,232	(698)	382	(316)	77	(239)	664	425	419	436	855	227	1,082	19	1,101	194	(137)	57	(97)	(40)	42	2	1	3	4	1	5	1	7	1
Income before taxes	(88,495)	52,539	(35,956)	39,682	3,725	221,825	225,550	(42,721)	44,089	1,368	21,111	22,479	251,443	273,922	(74,559)	(269,686)	(344,244)	(39,767)	(384,013)	181,810	(202,203)	(194,521)	118,002	(76,517)	(70,426)	(146,940)	194,476	47,535	(225,468)	9,386	(216,082)	(84,037)	(300,119)	310,261	10,142	(187,926)
Income taxes	28,682	(23,249)	5,433	(7,571)	(2,138)	(49,776)	(51,914)	13,840	(14,962)	(1,122)	(7,240)	(8,362)	(51,315)	(59,677)	28,666	88,134	116,800	19,826	136,626	(65,465)	71,161	64,467	(39,780)	24,687	322,237	346,925	(34,732)	312,193	82,007	3,105	85,112	35,756	120,868	(94,925)	25,942	65,704
Net Income (loss) for the period	(59,813)	29,290	(30,523)	32,111	1,587	172,049	173,636	(28,881)	29,127	246	13,871	14,117	200,128	214,245	(45,893)	(181,552)	(227,444)	(19,941)	(247,387)	116,345	(131,042)	(130,054)	78,222	(51,830)	251,811	199,984	159,744	359,728	(143,461)	12,491	(130,970)	(48,281)	(179,251)	215,336	36,084	(122,223)
Net Margin	-6.0%	2.4%	-1.4%	2.6%	0.0%	10.2%	3.4%	-2.8%	2.3%	0.0%	1.1%	0.4%	11.5%	4.1%	-4.7%	-61.6%	-17.9%	-1.9%	-10.6%	6.7%	-3.2%	-16.8%	6.7%	-2.7%	18.8%	6.1%	8.6%	7.0%	-12.0%	0.8%	-4.6%	-3.4%	-4.2%	11.0%	0.6%	-9.9%
Depreciation and amortization	52,685	53,321	106,006	53,509	159,515	45,576	205,091	55,847	57,774	113,621	59,312	172,933	60,109	233,042	60,261	60,841	121,102	60,980	182,082	64,250	246,332	56,959	59,936	116,895	61,611	178,506	68,149	246,655	80,815	82,738	163,554	84,145	247,698	47,362	295,060	88,158
EBITDA	(11,446)	160,526	149,080	115,251	264,331	296,981	561,312	25,413	123,700	149,113	104,156	253,269	317,006	570,275	(8,131)	(202,322)	(210,452)	394	(210,059)	213,832	3,773	(131,028)	124,772	(6,256)	(2,132)	(8,388)	258,975	250,584	(114,417)	150,156	35,738	61,242	96,981	363,140	460,120	(36,750)
(+/-) Other Net operating income (expenses)	2,171	(116)	2,055	(158)	1,897	8,911	10,808	(2,132)	(10,723)	(12,855)	(12,515)	(25,370)	(50,920)	(76,290)	4,335	11,578	15,913	21,171	37,081	40,862	77,943	(1,948)	47,495	45,546	(6,323)	39,223	(18,212)	21,012	8,071	2,860	10,931	9,775	20,706	15,414	36,120	2,119
(+) Expenses with Controlling Shareholder	966	1,135	2,101	995	3,096	906	4,002	1,369	1,234	2,603	547	3,150	- 0	3,150	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	-	-	-	- 0
(+) Royalties Expenses	- 0	- 0	- 0	- 0	- 0	34,365	34,365	5,647	7,385	13,032	7,551	20,583	11,370	31,953	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	-	-	-	-	- 0
(+) Financial Income of Supplier	5,760	8,039	13,799	5,188	18,987	5,445	24,432	6,278	6,743	13,021	7,572	20,593	11,137	31,730	8,585	875	9,460	3,712	13,172	3,797	16,969	3,599	2,365	5,964	2,117	8,081	4,358	12,438	2,757	1,899	4,656	2,044	6,700	2,547	9,247	1,207
(-) Tax Credit Recovery	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(518)	(11,158)	(11,676)	(51,341)	(63,017)	(94,202)	(157,219)	(4,358)	(173,339)	(177,697)	(7,036)	(184,733)	(43,671)	(228,404)	(3,537)	(17,207)	(20,744)	(46,729)	(67,473)	(132,909)	(200,382)	(6,593)
Adjusted EBITDA	(2,549)	169,584	167,035	121,276	288,311	346,608	634,919	36,575	128,339	164,914	107,311	272,225	288,593	560,818	4,271	(201,027)	(196,755)	(26,064)	(222,823)	164,289	(58,534)	(133,736)	1,293	(132,443)	(13,374)	(145,817)	201,450	55,630	(107,127)	137,708	30,581	26,333	56,915	248,192	305,105	(40,017)
Adjusted EBITDA / Net Operational Revenue	-0.3%	13.7%	7.5%	10.0%	8.4%	20.5%	12.4%	3.5%	10.2%	7.2%	8.6%	7.7%	16.6%	10.6%	0.4%	-68.3%	-15.5%	-2.4%	-9.5%	9.4%	-1.4%	-17.2%	0.1%	-6.8%	-1.0%	-4.4%	10.8%	1.1%	-8.9%	8.4%	1.1%	1.9%	1.3%	12.7%	4.9%	-3.2%
Adjusted EBITDA / Net Revenue from Merchandise	-0.3%	14.6%	8.0%	10.5%	8.9%	21.3%	13.0%	3.7%	10.8%	7.6%	9.1%	8.1%	17.1%	11.1%	0.5%	-73.1%	-16.7%	-2.5%	-10.0%	9.7%	-1.5%	-18.9%	0.1%	-7.2%	-1.0%	-4.7%	11.0%	1.1%	-9.5%	8.8%	1.1%	2.0%	1.4%	13.2%	5.2%	-3.5%
*Changes in accouting classifications as of January 2018
**We started to present the depreciation and amortization separately from the expenses as of 2019 to facilitate the analysis
***It excludes the impact of tax credit gains from excluding ICMS from the basis for calculating PIS/Cofins on 02/28/2019 in the amount of R$658.7million and R$586.2 million of interest and monetary correction
Unaudited Information

Expenses

Índice | Index
Total expenses (R$ thousand)	1Q19	2Q19	6M19	3Q19	9M19	4Q19	2019	1Q20	2Q20	6M20	3Q20	9M20	4Q20	2020	1Q21	2Q21	6M21	3Q21	9M21	4Q21	2021	1Q22	2Q22	6M22	3Q22	9M22	4Q22	2022	1Q23
Selling Expenses	(404,381)	(439,218)	(843,599)	(428,653)	(1,272,252)	(483,085)	(1,755,337)	(413,156)	(276,999)	(690,155)	(409,146)	(1,099,301)	(549,136)	(1,648,436)	(448,408)	(456,772)	(905,180)	(517,233)	(1,422,412)	(603,220)	(2,025,632)	(564,347)	(585,481)	(1,149,829)	(552,736)	(1,702,564)	(557,703)	(2,260,266)	(509,023)
Occupancy	(68,363)	(70,362)	(138,725)	(67,529)	(206,254)	(73,831)	(280,085)	(58,812)	(3,716)	(62,528)	(21,443)	(83,971)	(64,166)	(148,137)	(62,462)	(56,914)	(119,377)	(81,859)	(201,236)	(92,785)	(294,021)	(92,270)	(89,907)	(182,177)	(80,120)	(262,297)	(91,040)	(353,337)	(86,842)
Personnel	(135,323)	(145,311)	(280,634)	(143,564)	(424,198)	(155,435)	(579,633)	(140,758)	(88,916)	(229,674)	(117,467)	(347,141)	(140,947)	(488,088)	(127,775)	(132,386)	(260,160)	(158,681)	(418,842)	(180,072)	(598,914)	(171,678)	(189,212)	(360,890)	(175,107)	(535,997)	(195,742)	(731,739)	(164,405)
Third party materials/services	(45,997)	(48,158)	(94,155)	(45,924)	(140,079)	(62,923)	(203,002)	(50,554)	(38,858)	(89,412)	(81,320)	(170,732)	(104,496)	(275,228)	(72,267)	(73,544)	(145,811)	(83,070)	(228,881)	(95,279)	(324,160)	(75,796)	(91,932)	(167,728)	(82,622)	(250,350)	(101,325)	(351,675)	(74,130)
Depreciation and amortization	(37,336)	(38,452)	(75,788)	(39,489)	(115,277)	(40,222)	(155,499)	(39,937)	(40,411)	(80,348)	(40,746)	(121,094)	(42,258)	(163,351)	(34,646)	(35,576)	(70,222)	(35,984)	(106,207)	(38,123)	(144,330)	(39,997)	(38,980)	(78,977)	(39,552)	(118,530)	(5,220)	(123,749)	(35,666)
Depreciation of right-of-use	(68,282)	(67,749)	(136,031)	(67,210)	(203,241)	(45,446)	(248,687)	(63,155)	(63,754)	(126,909)	(63,398)	(190,307)	(67,492)	(257,798)	(69,438)	(72,660)	(142,098)	(71,351)	(213,449)	(72,218)	(285,667)	(77,836)	(81,577)	(159,413)	(86,037)	(245,451)	(75,628)	(321,079)	(80,091)
Advertising and promotions	(12,962)	(26,858)	(39,820)	(22,361)	(62,181)	(47,812)	(109,993)	(27,167)	(26,909)	(54,076)	(49,554)	(103,630)	(81,539)	(185,169)	(56,100)	(49,322)	(105,422)	(40,188)	(145,610)	(66,134)	(211,744)	(63,314)	(36,652)	(99,966)	(36,581)	(136,546)	(24,843)	(161,389)	(19,887)
Other	(36,118)	(42,328)	(78,446)	(42,576)	(121,022)	(57,416)	(178,438)	(32,773)	(14,435)	(47,208)	(35,218)	(82,426)	(48,238)	(130,665)	(25,720)	(36,369)	(62,089)	(46,099)	(108,188)	(58,608)	(166,796)	(43,457)	(57,220)	(100,677)	(52,717)	(153,393)	(63,903)	(217,298)	(48,001)
General and administrative expenses	(126,056)	(119,395)	(245,451)	(118,610)	(364,060)	(133,959)	(498,019)	(109,276)	(110,322)	(219,598)	(115,248)	(334,846)	(156,851)	(491,704)	(78,061)	(131,701)	(209,762)	(136,082)	(345,844)	(142,036)	(487,880)	(171,415)	(163,228)	(334,644)	(160,121)	(494,765)	(187,882)	(682,646)	(170,160)
Occupancy	(2,090)	(1,546)	(3,636)	(1,470)	(5,106)	(1,515)	(6,621)	(1,524)	(878)	(2,402)	(1,170)	(3,572)	1,826	(1,746)	(900)	(814)	(1,714)	(2,119)	(3,833)	(1,895)	(5,728)	(1,289)	(3,340)	(4,629)	(3,328)	(7,957)	(3,827)	(11,784)	(2,937)
Personnel	(65,344)	(65,979)	(131,323)	(62,020)	(193,343)	(78,355)	(271,698)	(61,718)	(54,523)	(116,241)	(58,231)	(174,472)	(73,973)	(248,445)	(58,855)	(62,690)	(121,545)	(63,444)	(184,989)	(69,774)	(254,763)	(71,400)	(80,322)	(151,722)	(67,551)	(219,273)	(90,562)	(309,835)	(67,297)
Third party materials/services	(26,690)	(23,749)	(50,439)	(25,317)	(75,756)	(28,574)	(104,330)	(23,868)	(25,278)	(49,146)	(28,237)	(77,383)	(46,103)	(123,492)	(26,144)	(30,488)	(56,632)	(31,767)	(88,398)	(39,171)	(127,569)	(37,838)	(25,402)	(63,240)	(28,296)	(91,536)	(34,042)	(125,578)	(27,670)
Depreciation and amortization	(18,510)	(19,323)	(37,833)	(19,823)	(57,656)	(19,888)	(77,544)	(20,324)	(20,428)	(40,752)	(20,237)	(60,989)	(21,992)	(82,981)	(22,313)	(24,362)	(46,675)	(25,625)	(72,300)	(30,025)	(102,325)	(40,819)	(43,757)	(84,576)	(44,592)	(129,169)	(42,142)	(171,311)	(52,491)
Depreciation of right-of-use	(5,465)	(5,480)	(10,945)	(5,566)	(16,511)	(3,555)	(20,066)	(4,671)	(4,991)	(9,662)	(5,689)	(15,351)	(5,465)	(20,816)	(5,330)	(5,399)	(10,730)	(5,670)	(16,399)	(5,920)	(22,319)	(8,253)	(5,061)	(13,314)	(6,390)	(19,703)	(6,045)	(25,748)	(6,196)
Other	(7,957)	(3,318)	(11,275)	(4,414)	(15,688)	(2,072)	(17,760)	2,830	(4,225)	(1,395)	(1,684)	(3,079)	(11,144)	(14,223)	35,481	(7,947)	27,533	(7,457)	20,076	4,747	24,823	(11,817)	(5,345)	(17,162)	(9,965)	(27,127)	(11,263)	(38,390)	(13,568)
Other net operating revenue (expenses)	639,851	10,598	650,449	17,285	667,734	50,595	718,329	(3,817)	(420)	(4,237)	30,167	25,930	53,341	79,276	6,379	125,771	132,150	13,359	145,509	63,986	209,495	(1,404)	13,704	12,300	37,493	49,791	119,462	169,254	5,591
Recovery of tax credits	637,719	1,485	639,204	4,523	643,727	1,166	644,893	518	12,466	12,984	51,276	64,260	94,258	150,429	4,358	173,339	177,697	7,036	184,733	44,428	229,161	3,537	17,207	20,744	46,729	67,473	132,909	200,382	6,593
Impairment	6,177	9,260	15,437	5,665	21,102	(9,838)	11,264	(2,926)	(969)	(3,895)	10,967	7,072	(921)	6,151	- 0	(81)	(81)	- 0	(81)	3,982	3,901	4,414	1,993	6,407	1,799	8,206	(2,067)	6,140	1,354
Results from asset write-offs	(5,391)	(8,369)	(13,760)	(5,028)	(18,788)	(227)	(19,015)	(3,432)	(1,033)	(4,465)	(2,702)	(7,167)	(425)	(7,592)	(335)	(3,253)	(3,588)	422	(3,166)	637	(2,529)	(504)	(298)	(802)	(5,310)	(6,112)	(2,480)	(8,592)	(1,323)
Other	1,346	8,222	9,568	12,125	21,693	59,494	81,187	2,023	(10,884)	(8,861)	(29,374)	(38,235)	(39,570)	(69,712)	2,355	(44,234)	(41,879)	5,901	(35,978)	14,939	(21,039)	(8,851)	(5,199)	(14,050)	(5,725)	(19,776)	(8,901)	(28,675)	(1,034)
Net credit losses	-	-	-	-	- 0	-	-	-	-	- 0	-	-	-	-	- 0	-	-	-	- 0	(492)	(492)	(1,194)	(12,192)	(13,386)	(20,847)	(34,233)	(30,038)	(64,271)	(44,124)
Total expenses	109,414	(548,015)	(438,601)	(529,978)	(968,578)	(566,449)	(1,535,027)	(526,250)	(387,740)	(913,990)	(494,227)	(1,408,217)	(652,645)	(2,060,865)	(520,090)	(462,701)	(982,792)	(639,956)	(1,622,748)	(681,761)	(2,304,509)	(738,362)	(747,198)	(1,485,560)	(696,211)	(2,181,771)	(656,159)	(2,837,930)	(717,716)
Unaudited Information

Operating Data

Índice | Index
Operating Data	2016	2017	1Q18	2Q18	6M18	3Q18	9M18	4Q18	2018	1Q19	2Q19	6M19	3Q19	9M19	4Q19	2019	1Q20	2Q20	6M20	3Q20	9M20	4Q20	2020	1Q21	2Q21	6M21	3Q21	9M21	4Q21	2021	1Q22	2Q22	6M22	3Q22	9M22	4Q22	2022	1Q23
Total Net Revenue (R$ million)	4,780.7	5,035.6	998.9	1,235.3	2,234.2	1,214.2	3,448.4	1,690.7	5,139.1	1,040.5	1,260.3	2,300.8	1,241.9	3,542.7	1,742.4	5,285.2	976.9	294.5	1,271.3	1,067.2	2,338.5	1,747.0	4,085.5	776.1	1,175.6	1,951.7	1,339.4	3,291.1	1,862.1	5,153.2	1,197.0	1,630.2	2,827.3	1,407.5	4,234.8	1,948.7	6,183.6	1,240.6
Same Store Sales	0.0%	4.9%	0.7%	-0.3%	0.1%	5.4%	1.9%	3.4%	2.5%	3.9%	1.8%	2.8%	0.8%	2.1%	1.0%	1.8%	-9.7%	-77.0%	-46.8%	-13.9%	-35.2%	-0.8%	-23.6%	-21.7%	303.9%	55.4%	21.0%	39.2%	5.8%	24.7%	53.5%	34.2%	41.6%	0.0%	24.5%	1.0%	15.9%	1.3%
Apparel %	7.1%	-0.8%	-2.4%	-1.7%	2.8%	-0.2%	1.3%	0.4%	2.1%	1.0%	1.5%	3.6%	2.2%	2.2%	2.2%	-8.9%	-79.7%	-48.4%	-18.2%	-37.7%	-3.3%	-25.7%	-20.6%	377.7%	66.3%	30.3%	49.2%	12.5%	32.7%	55.1%	35.0%	42.5%	0.9%	27.6%	1.3%	16.1%	4.3%
Fashiontronics and Beauty%	-4.3%	3.7%	9.7%	6.8%	17.2%	10.3%	13.7%	11.3%	10.9%	5.4%	7.9%	-9.4%	1.8%	-4.7%	-0.2%	-12.2%	-66.0%	-40.5%	6.2%	-25.3%	12.4%	-14.4%	-25.5%	125.7%	19.5%	-12.5%	5.0%	-24.7%	-6.3%	46.9%	30.0%	37.4%	-5.2%	25.3%	-1.3%	14.4%	-11.7%
Total Gross Margin %	47.2%	50.5%	49.0%	48.0%	48.7%	51.5%	49.6%	48.2%	49.2%	48.7%	47.3%	48.3%	49.3%	48.6%	48.8%	48.6%	48.7%	42.6%	46.0%	47.1%	46.4%	45.2%	46.7%	46.1%	44.7%	45.5%	48.3%	46.5%	47.4%	51.3%	49.7%	49.3%	49.5%	51.7%	50.2%	50.3%
Retail Gross Margin %	47.5%	45.9%	45.6%	45.8%	49.9%	47.2%	45.3%	46.6%	46.0%	45.0%	45.7%	47.9%	46.4%	44.9%	45.8%	45.1%	41.8%	43.6%	45.5%	44.4%	40.5%	44.9%	43.2%	42.6%	43.0%	47.6%	44.7%	44.3%	49.7%	47.4%	46.5%	47.1%	50.2%	48.1%	47.0%	47.0%
Gross merchandise margin %	44.9%	48.7%	47.0%	46.6%	46.9%	50.8%	48.2%	45.7%	47.2%	46.5%	45.6%	46.2%	48.9%	47.1%	45.7%	45.9%	45.8%	43.2%	44.5%	46.6%	45.4%	40.8%	46.1%	44.0%	44.3%	44.1%	48.6%	45.8%	45.0%	50.6%	48.3%	47.8%	48.1%	51.2%	49.1%	48.1%
Gross Margin - Apparel %	49.3%	53.0%	51.4%	50.4%	51.0%	55.3%	52.5%	51.5%	52.9%	52.2%	50.2%	51.5%	53.6%	52.2%	52.3%	55.0%	52.8%	48.2%	50.7%	52.2%	51.3%	46.4%	51.1%	49.3%	49.3%	49.3%	52.4%	50.5%	51.0%	55.9%	53.9%	51.8%	53.2%	55.3%	53.9%	53.1%
Gross Margin - Fashiotronics and Beauty %	28.1%	30.4%	29.4%	31.0%	29.9%	28.3%	29.5%	24.8%	24.4%	24.6%	24.4%	24.5%	23.9%	24.3%	21.3%	24.1%	22.1%	25.0%	23.4%	20.9%	22.5%	18.4%	20.0%	19.3%	16.9%	18.4%	21.8%	19.4%	19.5%	21.6%	20.6%	24.7%	21.8%	22.2%	21.9%	22.8%
Omni Net Revenue (R$ million)	16.4	23.7	40.1	22.7	62.9	35.7	98.5	24.2	30.5	54.8	31.9	86.7	41.5	128.2	38.6	139.6	178.1	173.7	351.8	157.3	509.1	106.6	191.0	297.6	194.0	491.6	195.4	687.0	157.7	220.7	509.1	198.0	576.4	296.9	872.4	240.9
% Omni Net Revenue / Total Merchandise Revenue	1.8%	2.0%	1.9%	2.0%	1.9%	2.2%	2.0%	2.5%	2.6%	2.5%	2.7%	2.6%	2.5%	2.5%	4.3%	50.7%	15.1%	16.6%	15.8%	9.3%	13.0%	15.0%	16.8%	16.2%	15.1%	15.7%	10.7%	13.8%	14.0%	14.1%	14.0%	14.9%	14.3%	15.7%	14.8%	20.8%
Average Ticket (R$)	125.5	137.6	131.9	130.9	131.6	133.9	132.3	127.8	166.5	135.2	139.7	137.3	143.7	140.0	131.9	161.1	148.6	150.0	149.2	158.3	152.5	154.6	182.9	170.1	167.8	169.3	179.5	172.4	170.2
New stores	2	0	0	1	1	0	1	3	4	0	4	4	2	6	4	10	1	2	3	1	4	6	10	2	9	11	4	15	11	26	2	10	12	4	16	1	17	0
Closed stores	20	3	1	0	1	0	1	0	1	1	0	1	1	2	0	2	2	0	2	0	2	0	2	0	2	2	0	2	0	2	2	0	2	2	4	0	4	1
Total of stores	279	276	275	276	276	276	276	279	279	278	282	282	283	283	287	287	286	288	288	289	30	295	295	297	304	304	308	308	319	319	319	329	329	331	331	332	332	331
Sales area (thousand m²)	524.4	518.5	517.9	519.8	519.8	519.8	519.8	525.8	525.8	524.0	532.5	532.5	535.4	535.4	544.0	544.0	544.0	547.2	547.2	549.0	549.0	559	559	559	575	575	581	581	597	597	597	612	612	613	613	616	616	612
DIO - Days Inventory Outstanding	76	91	85	84	82	79	58	69	119	474	187	116	140	68	98	167	129	129	106	115	81	97	131	110	114	122	115	87	100	135
DPO - Days Payment Outstading	94	95	88	96	80	86	82	107	113	248	115	107	155	113	191	195	122	145	129	160	131	183	124	116	129	129	123	134	163	152
DSO - Days Sales Outstanding	84	69	70	77	63	67	61	82	114	121	57	58	82	56	97	73	67	83	61	75	56	83	79	72	84	75	74	61	78	66
Number of Employees	14,887	15,629	15,629	15,258	15,258	15,363	15,363	15,717	14,360	14,360	12,925	12,925	14,350	14,350	13,783	14,163	14,163	16,277	16,277	17,403	17,403	16,741	16,683	16,683	15,828	15,828	16,005	16,005	15,860

Financial Services

Índice | Index
R$ million	1Q18	2Q18	3Q18	4Q18	2018	1Q19	2Q19	6M19	3Q19	9M19	4Q19	2019	1Q20	2Q20	6M20	3Q20	9M20	4Q20	2020	1Q21	2Q21	6M21	3Q21	9M21	4Q21	2021	1Q22	2Q22	6M22	3Q22	9M22	4Q22	2022	1Q23
Bradescard Partnership Revenues, Net. of taxes	58.7	72.7	53.6	56.3	241.3	55.3	61.0	116.3	52.5	168.8	47.6	216.4	68.2	15.9	84.1	16.0	100.1	49.1	149.2	62.5	37.7	100.2	49.6	149.8	24.5	174.3	56.4	26.4	82.8	29.8	112.6	10.7	123.2	9.9
C&A Pay (private label) Revenues, Net. of Funding and Taxes	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	0.7	0.7	9.9	28.4	38.3	43.6	81.9	52.2	134.1	69.2
Net Revenue from Funding and Financial Services Taxes	58.7	72.7	53.6	56.3	241.3	55.3	61.0	116.3	52.5	168.8	47.6	216.4	68.2	15.9	84.1	16.0	100.1	49.1	149.2	62.5	37.7	100.2	49.6	149.8	25.2	175.0	66.3	54.8	121.1	73.4	194.5	62.8	257.3	79.2
Gross Profit - Financial Services	58.2	72.3	53.2	55.9	239.7	55.0	60.7	115.7	52.2	167.9	47.3	215.1	67.9	15.6	83.5	15.8	99.3	48.9	148.2	62.3	37.5	99.7	49.4	149.1	23.9	173.0	66.2	54.1	120.3	73.0	193.3	62.5	255.8	78.8
(-) Losses, Net of Recoveries (C&A Pay)	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	- 0	(0.5)	(0.5)	(1.2)	(12.2)	(13.4)	(20.8)	(34.2)	(30.0)	(64.3)	(44.1)
(-) Total Financial Services Expenses	(54.1)	(45.4)	(43.8)	(47.7)	(191.1)	(49.7)	(51.1)	(100.8)	(50.5)	(151.3)	(56.4)	(207.8)	(51.0)	(33.4)	(84.4)	(47.7)	(132.1)	(47.3)	(179.4)	(28.8)	(27.2)	(56.0)	(33.9)	(89.9)	(47.4)	(137.3)	(47.9)	(52.0)	(99.9)	(61.2)	(161.1)	(66.0)	(227.0)	(58.1)
Sales	(128.0)	(40.7)	(45.9)	(86.6)	(53.7)	(140.3)	(58.0)	(198.3)	(51.6)
General and administrative	(2.1)	(2.6)	(2.9)	(5.5)	(2.6)	(8.1)	(4.0)	(12.2)	(3.5)
Other operating expenses (revenue), net	(1.2)	- 0	0.0	0.0	(1.0)	(1.0)	(0.0)	(1.0)	(0.0)
Depreciation	(6.6)	(4.0)	(3.9)	(7.9)	(3.8)	(11.7)	(3.8)	(15.6)	(3.0)
(=) Financial Services Result	4.1	26.9	9.4	8.2	48.6	5.2	9.6	14.8	1.6	16.4	(9.1)	7.3	17.0	(17.8)	(0.8)	(31.9)	(32.8)	1.6	(31.2)	33.5	10.3	43.7	15.5	59.2	(24.0)	35.2	17.1	(10.1)	7.0	(9.0)	(2.0)	(33.5)	(35.5)	(23.4)
1T18	2T18	3T18	4T18	2018	1T19	2T19	6M19	3T19	9M19	4T19	2019	1T20	2T20	6M20	3T20	9M20	4T20	2020	1T21	2T21	6M21	3T21	9M21	4T21	2021	1T22	2T22	6M22	3Q22	9M22	4Q22	2022	1Q23
Bradescard Partnership
Net Average of Accounts Receivable (billions)	4.0	3.5	3.2	3.2	3.5	3.0	2.8	2.9	2.9	3.0	3.1	2.9	3.2	2.7	3.0	2.7	2.9	2.8	3.1	2.7	2.6	2.7	2.7	2.8	2.9	2.9	2.9	2.8	2.8	2.7	2.8	2.6	2.8	2.6
% of Sale	24.5%	23.6%	22.3%	21.2%	22.4%	20.9%	22.0%	21.5%	21.2%	21.4%	18.0%	21.1%	20.3%	20%	21%	15.5%	17.2%	13.6%	15.7%	15.5%	15%	15%	15%	15%	13%	14%	10%	9%	9%	8%	9%	6%	8%	5%
Number of new cards (thousands)	118.4	139.1	134.2	198.2	589.8	143.2	167.4	310.6	178.9	489.4	294.1	783.5	179.5	18.5	198.0	102.7	335.9	179.6	516.1	130.0	199.0	329.0	277.0	606.0	265.0	871.0	96.0	117.0	212.9	59.0	272.0	93.0	871.0	71.1
Number of active cards (million)	3.2	3.1	3.0	6.0	6.1	5.5	5.4	5.5	5.3	5.4	5.3	5.4	5.2	3.4	4.0	2.8	3.8	2.7	4.0	2.7	2.5	2.6	2.5	2.6	2.6	2.7	2.7	2.2	2.5	2.2	2.4	2.1	2.7	2.0
Net losses from recoveries/average portfolio - period (%)	1.1%	2.1%	2.3%	1.6%	7.0%	1.9%	2.1%	4.0%	2.6%	6.5%	2.5%	9.0%	1.4%	5.4%	6.8%	3.3%	10.2%	1.0%	11.1%	0.3%	2.6%	2.7%	1.6%	4.3%	3.6%	7.6%	1.3%	3.4%	4.7%	3.2%	7.7%	4.9%	7.6%	4.8%
C&A Pay (private label)
Net Average of Accounts Receivable (billions)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	98.2	98.2	179.0	324.5	324.5	384.8	384.8	562.6	562.6	568.3
% of Sale	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4%	2%	10%	13%	12%	14%	13%	16%	13%	18%
Number of new cards (thousands)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	402	402	490	589	1,079	478	1,557	608	2,165	423
Number of issued cards (thousand)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	402	402	892	1,481	1,481	1,959	1,959	2,567	2,567	2,989
Net losses from recoveries/average portfolio - period (%)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.0%	4.0%	0.9%	4.8%	6.3%	5.9%	14.2%	6.3%	19.5%	7.8%

CAPEX

Índice | Index
Investements (R$ million)	2016	2017	1Q18	2Q18	6M18	3Q18	9M18	4Q18	2018	1Q19	2Q19	6M19	3Q19	9M19	4Q19	2019	1Q20	2Q20	6M20	3Q20	9M20	4Q20	2020	1Q21	2Q21	6M21	3Q21	9M21	4Q21	2021	1Q22	2Q22	6M22	3Q22	9M22	4Q22	2022	1Q23
New stores	16.3	-	-	3.8	3.8	7.8	11.6	12.4	24.1	11.5	14.1	25.6	14.6	40.2	25.5	65.7	7.5	7.1	14.6	12.6	27.2	36.5	63.7	27.1	15.3	42.4	42.6	85.0	93.7	178.7	22.5	45.7	68.2	24.2	92.4	16	108.4	5.0
Revamps and Remodelling	29.8	20.1	29.4	8.3	37.7	52.5	90.2	42.3	132.5	39.5	33.7	73.3	36.4	109.5	22.1	131.6	14.4	14.4	28.8	15.1	43.9	30.5	74.4	3.7	8.1	11.8	11.1	22.9	36.9	59.8	4.6	9.4	14.0	8.7	22.7	22.9	45.6	1.0
Supply Chain	4.6	31.2	1.8	0.6	2.4	1.6	4	0.6	4.6	0.6	8.4	9.1	3.5	12.5	2.5	15	2.1	2.1	4.2	3.8	8	37	45	14.3	30.9	45.2	55.6	100.8	43.7	144.5	3.5	11.3	14.8	11.4	26.2	11.6	37.8	6.4
Digital and Technology	59.5	47.6	37.4	8.2	45.6	10	55.6	22.9	78.5	32	18.2	50.2	21.4	71.7	34.7	106.4	9.5	21.7	31.2	12.9	44.1	75.3	119.4	25.5	87.3	112.8	13.4	126.2	172.9	299.1	24.9	47.3	72.2	49.1	121.3	60.3	181.6	37.4
Total Investments	110.2	98.9	68.6	20.9	89.5	71.9	161.4	78.2	239.7	83.6	74.4	158.2	75.9	233.9	84.8	318.7	33.5	45.3	78.8	44.4	123.2	179.3	302.5	70.7	141.6	212.2	122.7	334.9	347.2	682.1	55.5	113.7	169.2	93.4	262.6	110.8	373.4	49.8

Stores

Opening Date	Shopping/Street	Sales Area - m²	City	Location	State	Region
8/31/76	SHOPPING MALL	2,705	SÃO PAULO	SHOPPING IBIRAPUERA	SP	Southeast
9/15/77	STREET	2,256	CAMPINAS	CAMPINAS - CENTRO	SP	Southeast
10/13/77	STREET	3,652	CURITIBA	CURITIBA-CENTRO	PR	South
8/31/78	STREET	3,366	PORTO ALEGRE	PORTO ALEGRE	RS	South
8/28/79	STREET	2,173	RIO DE JANEIRO	COPACABANA	RJ	Southeast
9/13/79	SHOPPING MALL	2,030	BELO HORIZONTE	BH SHOPPING	MG	Southeast
4/17/80	STREET	1,882	SANTO ANDRE	SANTO ANDRE CENTRO	SP	Southeast
5/7/80	SHOPPING MALL	2,034	CAMPINAS	SHOPPING IGUATEMI CAMPINAS	SP	Southeast
5/6/81	SHOPPING MALL	2,118	RIBEIRÃO PRETO	RIBEIRAO SHOPPING	SP	Southeast
8/27/81	STREET	2,737	RIO DE JANEIRO	TIJUCA	RJ	Southeast
10/13/81	SHOPPING MALL	1,930	GOIANIA	FLAMBOYANT SHOPPING CENTER	GO	Midwest
10/27/81	SHOPPING MALL	3,490	RIO DE JANEIRO	BARRA SHOPPING	RJ	Southeast
5/3/82	SHOPPING MALL	3,164	SÃO PAULO	SHOPPING MORUMBI	SP	Southeast
8/31/82	STREET	3,348	BELO HORIZONTE	BELO HORIZONTE	MG	Southeast
9/16/82	STREET	2,678	SANTOS	CONJTO ATLANTICO (SHOPPING)	SP	Southeast
4/14/83	SHOPPING MALL	2,642	CAXIAS DO SUL	SHOPPING CENTER IGUATEMI	RS	South
4/26/83	SHOPPING MALL	2,014	BRASILIA	SHOPPING CONJUNTO NACIONAL	DF	Midwest
11/8/83	SHOPPING MALL	2,995	BRASILIA	PARK SHOPPING	DF	Midwest
4/7/84	SHOPPING MALL	3,469	SÃO PAULO	SHOPPING CENTER NORTE	SP	Southeast
10/10/85	SHOPPING MALL	4,877	SALVADOR	SHOPPING IGUATEMI BAHIA	BA	Northeast
11/12/85	STREET	3,095	RIO DE JANEIRO	OUVIDOR	RJ	Southeast
11/14/85	STREET	3,357	RIO DE JANEIRO	MADUREIRA	RJ	Southeast
11/20/85	SHOPPING MALL	4,305	SALVADOR	SHOPPING PIEDADE	BA	Northeast
3/20/86	SHOPPING MALL	3,143	RECIFE	SHOPPING RECIFE	PE	Northeast
10/3/86	SHOPPING MALL	2,953	NITEROI	PLAZA SHOPPING NITEROI	RJ	Southeast
5/28/87	SHOPPING MALL	2,014	SÃO JOSÉ DOS CAMPOS	CENTER VALE SHOPPING	SP	Southeast
11/5/87	STREET	3,379	RECIFE	RECIFE - CENTRO	PE	Northeast
11/16/87	SHOPPING MALL	1,787	SALVADOR	SHOPPING BARRA	BA	Northeast
4/28/88	SHOPPING MALL	1,639	SÃO PAULO	SHOPPING IGUATEMI	SP	Southeast
8/25/88	STREET	2,424	SÃO BERNARDO DO CAMPO	SAO BERNARDO DO CAMPO	SP	Southeast
9/28/88	SHOPPING MALL	2,908	SÃO PAULO	SHOPPING INTERLAGOS	SP	Southeast
3/30/89	SHOPPING MALL	3,219	RIO DE JANEIRO	NORTE SHOPPING	RJ	Southeast
4/11/89	SHOPPING MALL	2,831	MACEIO	SHOPPING IGUATEMI MACEIO	AL	Northeast
10/24/89	SHOPPING MALL	1,778	JUNDIAÍ	MAXI SHOPPING	SP	Southeast
4/25/91	SHOPPING MALL	2,015	RIO DE JANEIRO	SHOPPING MEYER	RJ	Southeast
5/2/91	SHOPPING MALL	2,006	SÃO PAULO	SHOPPING WEST PLAZA	SP	Southeast
9/19/91	SHOPPING MALL	2,603	SÃO PAULO	SHOPPING ARICANDUVA	SP	Southeast
9/25/91	SHOPPING MALL	3,077	BELO HORIZONTE	MINAS SHOPPING	MG	Southeast
10/28/91	SHOPPING MALL	1,685	BELO HORIZONTE	SHOPPING DEL REY	MG	Southeast
9/30/93	SHOPPING MALL	2,331	VITORIA	VITORIA SHOPPING	ES	Southeast
10/27/93	SHOPPING MALL	3,604	BELEM	SHOPPING PÁTIO BELEM	PA	North
10/29/93	SHOPPING MALL	2,050	PORTO ALEGRE	SHOPPING PRAIA DE BELAS	RS	South
4/26/94	SHOPPING MALL	2,226	SÃO PAULO	SHOPING PLAZA SUL	SP	Southeast
9/15/94	STREET	2,394	NOVA IGUAÇU	NOVA IGUACU	RJ	Southeast
9/19/95	STREET	2,007	SÃO PAULO	SAO PAULO CENTRO	SP	Southeast
9/28/95	STREET	2,051	FORTALEZA	FORTALEZA CENTRO	CE	Northeast
10/26/95	STREET	2,616	DUQUE DE CAXIAS	DUQUE DE CAXIAS	RJ	Southeast
11/16/95	SHOPPING MALL	2,855	FORTALEZA	SHOPPING IGUATEMI FORTALEZA	CE	Northeast
10/30/96	SHOPPING MALL	2,250	CURITIBA	SHOPPING CURITIBA	PR	South
4/29/97	SHOPPING MALL	2,040	RECIFE	SHOPPING TACARUNA	PE	Northeast
5/2/97	SHOPPING MALL	1,687	SANTO ANDRE	SHOPPING ABC	SP	Southeast
10/23/97	STREET	1,643	PELOTAS	PELOTAS CENTRO	RS	South
10/28/97	SHOPPING MALL	2,368	SÃO PAULO	SHOPPING METRO TATUAPE	SP	Southeast
10/29/97	SHOPPING MALL	2,044	BRASILIA	PATIO BRASIL SHOPPING	DF	Midwest
4/2/98	SHOPPING MALL	1,997	NOVO HAMBURGO	SHOPPING NOVO HAMBURGO	RS	South
4/14/98	STREET	2,298	JOÃO PESSOA	JOAO PESSOA	PB	Northeast
4/15/98	SHOPPING MALL	1,998	SANTO ANDRE	ABC PLAZA SHOPPING	SP	Southeast
4/16/98	SHOPPING MALL	1,844	ARACAJU	SHOPPING JARDINS	SE	Northeast
11/12/98	SHOPPING MALL	1,979	GUARULHOS	SHOPPING INTERNACIONAL	SP	Southeast
9/30/99	SHOPPING MALL	1,655	SÃO PAULO	CENTRAL PLAZA SHOPPING	SP	Southeast
4/26/00	SHOPPING MALL	1,993	GOIANIA	GOIANIA SHOPPING	GO	Midwest
4/27/00	STREET	2,694	SÃO LUIS	SAO LUIZ	MA	Northeast
10/5/00	SHOPPING MALL	2,040	FEIRA DE SANTANA	SHOPP. IGUAT. FEIRA DE SANT	BA	Northeast
10/26/00	SHOPPING MALL	1,221	CURITIBA	SHOPPING MULLER	PR	South
11/16/00	SHOPPING MALL	1,828	BRASILIA	SHOPPING TAGUATINGA	DF	Midwest
11/17/00	SHOPPING MALL	1,819	RIO DE JANEIRO	SHOPP. PASSEIO CAMPO GRANDE	RJ	Southeast
11/23/00	SHOPPING MALL	2,178	MANAUS	AMAZONAS SHOPPING	AM	North
5/8/01	SHOPPING MALL	1,726	RIO DE JANEIRO	SHOPPING CARIOCA	RJ	Southeast
11/8/01	SHOPPING MALL	2,365	JABOATÃO DOS GUARARAPES	SHOPPING GUARARAPES	PE	Northeast
12/13/01	STREET	3,306	MANAUS	MANAUS	AM	North
3/19/02	SHOPPING MALL	2,320	CAMPINAS	SHOPPING PARQUE DOM PEDRO	SP	Southeast
3/21/02	SHOPPING MALL	2,306	RIO DE JANEIRO	SHOPPING NOVA AMERICA	RJ	Southeast
7/10/02	SHOPPING MALL	2,311	TABOA DA SERRA	SHOPPING TABOAO DA SERRA	SP	Southeast
10/29/02	SHOPPING MALL	2,048	VILA VELHA	SHOPPING PRAIA DA COSTA	ES	Southeast
12/2/02	SHOPPING MALL	1,612	MAUA	MAUA PLAZA SHOPPING	SP	Southeast
12/3/02	SHOPPING MALL	2,347	MANAIRA	MANARIA SHOPPING	PB	Northeast
4/10/03	SHOPPING MALL	1,203	VOLTA REDONDA	SIDER SHOPPING	RJ	Southeast
4/15/03	SHOPPING MALL	1,709	RIO DE JANEIRO	WEST SHOPPING RIO	RJ	Southeast
5/29/03	STREET	2,898	BELO HORIZONTE	BELO HORIZONTE CENTRO - II	MG	Southeast
7/10/03	SHOPPING MALL	2,171	CAMPO GRANDE	SHOPPING CAMPO GRANDE	MS	Midwest
7/31/03	STREET	2,044	GUARULHOS	GUARULHOS CENTRO	SP	Southeast
9/25/03	SHOPPING MALL	3,219	BELEM	SHOPPING CASTANHEIRA	PA	North
11/1/03	SHOPPING MALL	2,180	BARUERI	SHOPPING TAMBORE	SP	Southeast
11/6/03	SHOPPING MALL	2,387	CURITIBA	PARK SHOPPING BARIGUI	PR	South
11/15/03	STREET	1,945	OSASCO	OSASCO CENTRO	SP	Southeast
11/30/03	SHOPPING MALL	1,974	CONTAGEM	ITAU POWER SHOPPING	MG	Southeast
3/25/04	SHOPPING MALL	1,684	SÃO GONÇALO	SAO GONCALO SHOPPING	RJ	Southeast
4/1/04	SHOPPING MALL	1,918	SÃO JOAO DO MERITI	SHOPPING GRANDE RIO	RJ	Southeast
4/22/04	SHOPPING MALL	1,906	APARECIDA DE GOIANIA	BURITI SHOPPING	GO	Midwest
4/27/04	SHOPPING MALL	1,800	SÃO PAULO	SHOPPING BOA VISTA	SP	Southeast
10/28/04	SHOPPING MALL	2,034	SÃO PAULO	SHOPPING PENHA	SP	Southeast
11/18/04	SHOPPING MALL	1,718	UBERLANDIA	CENTER SHOPPING	MG	Southeast
12/2/04	SHOPPING MALL	1,524	SÃO JOSÉ	SHOPPING ITAGUAÇU	SC	South
12/9/04	SHOPPING MALL	1,314	RIO DE JANEIRO	SHOPPING RECREIO	RJ	Southeast
4/27/05	SHOPPING MALL	2,608	NATAL	MIDWAY MALL	RN	Northeast
6/2/05	SHOPPING MALL	1,121	PIRACICABA	SHOPPING PIRACICABA	SP	Southeast
6/9/05	STREET	2,512	ARACAJU	ARACAJU CENTRO	SE	Northeast
7/14/05	SHOPPING MALL	1,752	NATAL	NATAL SHOPPING	RN	Northeast
8/4/05	SHOPPING MALL	1,564	FORTALEZA	NORTH SHOPPING	CE	Northeast
10/27/05	SHOPPING MALL	1,509	BRASILIA	SHOPPING ALAMEDA	DF	Midwest
11/17/05	SHOPPING MALL	1,629	PRAIA GRANDE	LITORAL SHOPPING	SP	Southeast
11/17/05	SHOPPING MALL	1,745	SOROCABA	ESPLANADA SHOPP. SOROCABA	SP	Southeast
12/1/05	SHOPPING MALL	1,344	LONDRINA	SHOPPING CATUAI	PR	South
12/8/05	SHOPPING MALL	1,474	CARUARU	SHOPPING CARUARU	PE	Northeast
12/9/05	STREET	2,475	TERESINA	TERESINA CENTRO	PI	Northeast
4/27/06	SHOPPING MALL	990	SÃO PAULO	SHOPPING JARDIM SUL	SP	Southeast
5/4/06	STREET	2,577	MACEIO	MACEIO CENTRO	AL	Northeast
7/6/06	SHOPPING MALL	1,671	SÃO PAULO	SHOPPING CAMPO LIMPO	SP	Southeast
7/13/06	SHOPPING MALL	1,159	SANTA BARBARA OESTE	SHOPPING TIVOLI	SP	Southeast
7/27/06	SHOPPING MALL	1,040	FRANCA	FRANCA SHOPPING	SP	Southeast
8/10/06	SHOPPING MALL	1,017	ITU	PLAZA SHOPPING ITU	SP	Southeast
10/5/06	SHOPPING MALL	1,474	RIBEIRÃO PRETO	NOVO SHOPPING	SP	Southeast
10/5/06	SHOPPING MALL	1,092	RIO DE JANEIRO	ILHA DO GOVERN. PLAZA SHOPP	RJ	Southeast
10/19/06	SHOPPING MALL	1,083	TAUBATE	SHOPPING TAUBATÉ	SP	Southeast
10/26/06	STREET	1,898	JUIZ DE FORA	JUIZ DE FORA	MG	Southeast
11/9/06	SHOPPING MALL	1,862	SÃO PAULO	SHOPPING SP MARKET	SP	Southeast
11/23/06	STREET	1,962	SÃO LUIS	SAO LUIS	MA	Northeast
12/7/06	STREET	1,801	CAMPINA GRANDE	CAMPINA GRANDE	PB	Northeast
12/14/06	SHOPPING MALL	1,022	SÃO PAULO	SHOPPING ELDORADO	SP	Southeast
2/8/07	SHOPPING MALL	1,510	FLORIANÓPOLIS	FLORIPA SHOPPING	SC	South
3/1/07	SHOPPING MALL	1,040	SÃO PAULO	SHOPPING D	SP	Southeast
4/28/07	SHOPPING MALL	1,278	SÃO VICENTE	SHOPPING BRISAMAR	SP	Southeast
5/3/07	SHOPPING MALL	1,012	GUARATINGUETA	BURITI SHOPPING GUARÁ	SP	Southeast
5/22/07	SHOPPING MALL	2,467	SALVADOR	SHOPPING SALVADOR	BA	Northeast
5/31/07	SHOPPING MALL	1,479	FORTALEZA	SHOPPING BENFICA	CE	Northeast
6/14/07	STREET	1,951	FEIRA DE SANTANA	FEIRA DE SANTANA CENTRO	BA	Northeast
6/16/07	SHOPPING MALL	1,054	MOGI DAS CRUZES	SHOPPING MOGI	SP	Southeast
9/26/07	SHOPPING MALL	1,677	RECIFE	PLAZA SHOPPING CASA FORTE	PE	Northeast
10/4/07	SHOPPING MALL	1,208	SÃO JOSÉ DOS CAMPOS	SHOPPING VALE SUL	SP	Southeast
10/25/07	SHOPPING MALL	1,635	SÃO PAULO	SANTANA PARQUE SHOPPING	SP	Southeast
10/27/07	SHOPPING MALL	1,646	CAMBURIU	SHOPP. BALNEARIO CAMBURIU	SC	South
10/29/07	STREET	1,890	SÃO GONÇALO	ALCANTARA CENTRO	RJ	Southeast
10/30/07	SHOPPING MALL	2,070	RIO DE JANEIRO	BANGÚ SHOPPING	RJ	Southeast
11/7/07	SHOPPING MALL	2,084	SÃO PAULO	SHOPPING METRO ITAQUERA	SP	Southeast
11/22/07	SHOPPING MALL	1,893	CUIABÁ	SHOPPING PANTANAL	MT	Midwest
11/28/07	STREET	1,790	RIO DE JANEIRO	BONSUCESSO CENTRO	RJ	Southeast
11/29/07	SHOPPING MALL	1,026	INDAIATUBA	SHOPPING JARAGUA	SP	Southeast
11/29/07	SHOPPING MALL	1,447	RIO DE JANEIRO	TIJUCA SHOPPING	RJ	Southeast
11/30/07	SHOPPING MALL	1,148	BAURU	BAURU SHOPPING	SP	Southeast
12/6/07	SHOPPING MALL	1,685	NATAL	NORTE SHOPPING	RN	Northeast
3/13/08	SHOPPING MALL	1,089	SÃO CARLOS	SHOPP. IGUATEMI SAO CARLOS	SP	Southeast
3/28/08	SHOPPING MALL	1,702	SÃO PAULO	SHOPPING BOURBON POMPÉIA	SP	Southeast
4/22/08	SHOPPING MALL	1,803	JUIZ DE FORA	INDEPENDENCIA SHOPPING	MG	Southeast
5/9/08	SHOPPING MALL	1,908	CURITIBA	SHOPPING PALLADIUM	PR	South
5/29/08	SHOPPING MALL	1,005	LIMEIRA	SHOPPING PÁTIO LIMEIRA	SP	Southeast
9/11/08	SHOPPING MALL	1,070	POÇOS DE CALDAS	MINASSUL SHOPPING	MG	Southeast
9/25/08	SHOPPING MALL	1,669	MACAE	SHOPPING PLAZA MACAE	RJ	Southeast
9/26/08	SHOPPING MALL	1,590	NITEROI	BAY MARKET CENTER	RJ	Southeast
10/23/08	SHOPPING MALL	1,495	RIO PRETO	SHOPPING RIO PRETO	SP	Southeast
10/30/08	SHOPPING MALL	1,907	PORTO VELHO	PORTO VELHO SHOPPING	RO	North
11/6/08	SHOPPING MALL	1,829	PETROLINA	RIVER SHOPPING	PE	Northeast
11/11/08	SHOPPING MALL	1,761	DUQUE DE CAXIAS	CAXIAS SHOPPING	RJ	Southeast
11/13/08	SHOPPING MALL	977	RIO CLARO	RIO CLARO SHOPPING	SP	Southeast
11/27/08	SHOPPING MALL	1,240	SUZANO	SHOPPING SUZANO	SP	Southeast
12/1/08	SHOPPING MALL	1,772	FORTALEZA	SHOPPING VIA SUL	CE	Northeast
3/26/09	SHOPPING MALL	1,070	PRESIDENTE PRUDENTE	PRUDENSHOPPING	SP	Southeast
4/28/09	SHOPPING MALL	1,978	SALVADOR	SHOPPING PARALELA	BA	Northeast
4/30/09	SHOPPING MALL	1,030	GUARULHOS	SHOPPING BONSUCESSO	SP	Southeast
5/7/09	SHOPPING MALL	1,600	PORTO ALEGRE	SHOPPING IGUATEMI	RS	South
5/28/09	SHOPPING MALL	1,634	MANAUS	SHOPPING MANAUARA	AM	North
6/18/09	SHOPPING MALL	2,264	OSASCO	SHOPPING UNIÃO	SP	Southeast
7/16/09	SHOPPING MALL	1,827	BRASILIA	BOULEVARD SHOPP. BRASILIA	DF	Midwest
10/1/09	SHOPPING MALL	1,580	BELO HORIZONTE	VIA SHOPPING BARREIRO	MG	Southeast
10/29/09	SHOPPING MALL	1,735	DIADEMA	SHOPPING PRAÇA DA MOÇA	SP	Southeast
11/25/09	SHOPPING MALL	2,017	MACEIO	SHOPPING PÁTIO MACEIO	AL	Northeast
12/3/09	SHOPPING MALL	1,813	BELEM	SHOPPING BOULEVARD	PA	North
12/10/09	STREET	1,063	ITABORAI	ITABORAI	RJ	Southeast
4/15/10	SHOPPING MALL	2,013	SÃO LUIS	SHOPPING RIO ANIL	MA	Northeast
4/24/10	SHOPPING MALL	1,747	JOINVILLE	JOINVILLE GARTEN SHOPPING	SC	South
6/1/10	SHOPPING MALL	1,027	SÃO PAULO	RAPOSO SHOPPING	SP	Southeast
10/5/10	SHOPPING MALL	1,002	SETE LAGOAS	SHOPPING SETE LAGOAS	MG	Southeast
10/26/10	SHOPPING MALL	1,807	BELO HORIZONTE	BOULEVARD SHOPPING	MG	Southeast
10/28/10	SHOPPING MALL	1,047	ITAGUAI	PÁTIOMIX COSTA VERDE	RJ	Southeast
11/4/10	SHOPPING MALL	1,590	CANOAS	CANOAS SHOPPING	RS	South
11/9/10	SHOPPING MALL	1,701	SALVADOR	SALVADOR NORTE SHOPPING	BA	Northeast
11/24/10	SHOPPING MALL	984	COTIA	SHOPPING GRANJA VIANNA	SP	Southeast
11/30/10	SHOPPING MALL	923	SÃO GONÇALO	BOULEV. SHOPP. SÃO GONÇALO	RJ	Southeast
4/29/11	SHOPPING MALL	1,929	RIO DE JANEIRO	SHOPPING BOULEVARD	RJ	Southeast
6/30/11	SHOPPING MALL	1,964	ITABUNA	JEQUITIBÁ PLAZA	BA	Northeast
7/7/11	STREET	2,117	RIO DE JANEIRO	CENTRO	RJ	Southeast
8/4/11	SHOPPING MALL	1,023	INDAIATUBA	POLO SHOPPING INDAIATUBA	SP	Southeast
8/25/11	STREET	2,359	RIO DE JANEIRO	CAMPO GRANDE	RJ	Southeast
9/22/11	SHOPPING MALL	998	JACAREI	JACAREÍ SHOPPING	SP	Southeast
10/4/11	SHOPPING MALL	1,093	UBERABA	SHOPPING UBERABA	MG	Southeast
11/10/11	SHOPPING MALL	2,244	SÃO CAETANO DO SUL	PARK SHOPPING SÃO CAETANO	SP	Southeast
11/24/11	SHOPPING MALL	1,165	HORTOLANDIA	SHOPPING HORTOLANDIA	SP	Southeast
11/25/11	SHOPPING MALL	1,140	MONTES CLAROS	SHOPPING MONTES CLAROS	MG	Southeast
11/29/11	SHOPPING MALL	1,838	SÃO PAULO	MOOCA PLAZA SHOPPING	SP	Southeast
11/30/11	SHOPPING MALL	1,783	BARUERI	PARQUE SHOPPING BARUERI	SP	Southeast
11/30/11	SHOPPING MALL	2,002	SERRA	SHOPPING MESTRE ÁLVARO	ES	Southeast
12/8/11	SHOPPING MALL	1,005	MARILIA	MARILIA SHOPPING CENTER	SP	Southeast
12/8/11	SHOPPING MALL	1,122	SÃO BERNARDO DO CAMPO	SHOPPING METRÓPOLE	SP	Southeast
12/9/11	SHOPPING MALL	1,887	SERGIPE	SHOPPING RIOMAR	SE	Northeast
12/13/11	SHOPPING MALL	2,072	VITORIA DA CONQUISTA	SHOPPING CONQUISTA SUL	BA	Northeast
12/20/11	SHOPPING MALL	2,121	SÃO LUIS	SHOPPING DA ILHA	MA	Northeast
4/26/12	SHOPPING MALL	1,984	PORTO ALEGRE	BOURBON SHOPPING WALLIG	RS	South
5/4/12	SHOPPING MALL	1,951	BELEM	PARQUE SHOPPING BELÉM	PA	North
5/8/12	SHOPPING MALL	2,025	JUAZEIRO DO NORTE	SHOPPING CARIRI	CE	Northeast
5/23/12	SHOPPING MALL	2,011	BELO HORIZONTE	SHOPPING ESTAÇÃO BH	MG	Southeast
6/14/12	SHOPPING MALL	1,004	RECIFE	SHOPPING BOA VISTA	PE	Northeast
7/13/12	SHOPPING MALL	2,336	SALVADOR	SHOPPING BELA VISTA	BA	Northeast
7/24/12	SHOPPING MALL	1,009	CARUARU	SHOPPING DIFUSORA	PE	Northeast
9/27/12	SHOPPING MALL	2,240	IMPERATRIZ	SHOPPING IMPERIAL	MA	Northeast
10/10/12	SHOPPING MALL	1,877	CABO DE SANTO AGOSTINHO	SHOPPING COSTA DOURADA	PE	Northeast
10/12/12	SHOPPING MALL	1,163	SÃO JOSÉ DO RIO PRETO	SHOPPING CIDADE NORTE	SP	Southeast
10/18/12	SHOPPING MALL	1,735	JUNDIAÍ	JUNDIAÍ SHOPPING	SP	Southeast
10/27/12	SHOPPING MALL	2,322	SÃO JOSÉ	CONTINENTE PARK SHOPPING	SC	South
10/30/12	SHOPPING MALL	2,250	RECIFE	RIOMAR SHOPPING	PE	Northeast
11/9/12	SHOPPING MALL	2,253	CAMPINAS	SHOP. PARQUE DAS BANDEIRAS	SP	Southeast
11/13/12	SHOPPING MALL	2,127	SÃO BERNARDO DO CAMPO	SHOPPING SÃO BERNARDO PLAZA	SP	Southeast
11/22/12	SHOPPING MALL	1,112	MOGI GUAÇU	BURITI SHOPPING MOGI GUAÇU	SP	Southeast
11/27/12	SHOPPING MALL	999	VILA VELHA	BOULERVAD SHOPP. VILA VELHA	ES	Southeast
11/29/12	SHOPPING MALL	2,110	RIO DE JANEIRO	PARK SHOPPING CAMPO GRANDE	RJ	Southeast
12/1/12	SHOPPING MALL	1,112	LONDRINA	NORTE SHOPPING LONDRINA	PR	South
5/2/13	SHOPPING MALL	1,012	NOSSA SRA SOCORRO	SHOPPING PRÊMIO	SE	Northeast
5/7/13	SHOPPING MALL	2,020	MARABÁ	SHOPPING PÁTIO MARABÁ	PA	North
7/10/13	SHOPPING MALL	2,201	BETIM	METROPOLITAN GARDEN SHOPP.	MG	Southeast
7/30/13	SHOPPING MALL	1,308	MACAPA	SHOPPING AMAPÁ GARDEN	AP	North
9/25/13	STREET	1,052	ARAPIRACA	SHOP PÁT. ARAPIRACA GARDEN	AL	Northeast
10/22/13	SHOPPING MALL	1,067	ITAPECERICA DA SERRA	SHOPPING ITAPECERICA	SP	Southeast
10/24/13	SHOPPING MALL	1,543	RIO DE JANEIRO	PARQUE SHOPPING SULACAP	RJ	Southeast
11/7/13	SHOPPING MALL	1,799	MACEIO	SHOPPING MACEIÓ	AL	Northeast
11/12/13	SHOPPING MALL	1,529	FORTALEZA	NORTH SHOPPING JÓQUEI	CE	Northeast
11/12/13	SHOPPING MALL	2,120	GOIANIA	SHOPPING PASSEIO DAS ÁGUAS	GO	Midwest
11/16/13	SHOPPING MALL	2,127	CEILANDIA	SHOPPING JK CEILÂNDIA	DF	Midwest
11/21/13	SHOPPING MALL	996	SOROCABA	SHOPPING PÁTIO CIANÊ	SP	Southeast
11/22/13	STREET	980	RIO DE JANEIRO	IPANEMA	RJ	Southeast
11/26/13	SHOPPING MALL	2,199	FORTALEZA	SHOPPING PARANGABA	CE	Northeast
11/26/13	SHOPPING MALL	2,198	CONTAGEM	SHOPPING CONTAGEM	MG	Southeast
11/27/13	SHOPPING MALL	1,000	SERRA	SHOPPING MONT SERRAT	ES	Southeast
12/3/13	SHOPPING MALL	2,172	VALPARAÍSO	SHOPPING SUL	GO	Midwest
12/3/13	SHOPPING MALL	1,646	MARINGA	MARINGÁ PARK SHOPPING	PR	South
12/17/13	SHOPPING MALL	2,226	SÃO PAULO	SHOPPING TIETÊ PLAZA	SP	Southeast
5/6/14	SHOPPING MALL	1,559	CARIACICA	SHOPPING MOXUARA	ES	Southeast
5/6/14	STREET	2,267	UBERLANDIA	UBERLÂNDIA CENTRO	MG	Southeast
5/6/14	SHOPPING MALL	2,162	SÃO LUIS	SÃO LUIS SHOPPING	MA	Northeast
8/25/14	SHOPPING MALL	2,202	VILA VELHA	SHOPPING VILA VELHA	ES	Southeast
10/29/14	SHOPPING MALL	2,304	FORTALEZA	RIO MAR SHOPPING FORTALEZA	CE	Northeast
10/30/14	SHOPPING MALL	1,030	MACAPA	MACAPÁ SHOPPING CENTER	AP	North
10/30/14	SHOPPING MALL	2,130	TERESINA	TERESINA SHOPPING	PI	Northeast
11/6/14	SHOPPING MALL	2,050	RIO BRANCO	SHOPPING VIA VERDE	AC	North
11/13/14	SHOPPING MALL	841	BARUERI	SHOPPNG IGUATEMI ALPHAVILLE	SP	Southeast
11/20/14	SHOPPING MALL	1,002	RIO VERDE	BURITI SHOPPING RIO VERDE	GO	Midwest
11/21/14	SHOPPING MALL	1,118	ANÁPOLIS	ANA SHOPPING	GO	Midwest
11/25/14	SHOPPING MALL	2,149	BOA VISTA	PÁTIO RORAIMA SHOPPING	RR	North
11/27/14	STREET	2,176	CAMPO GRANDE	CAMPO GRANDE CENTRO	MS	Midwest
11/29/14	SHOPPING MALL	2,159	JOÃO PESSOA	MANGABEIRA SHOPPING	PB	Northeast
12/2/14	SHOPPING MALL	1,095	MARACANAU	NORTH SHOPPING MARACANAÚ	CE	Northeast
12/4/14	SHOPPING MALL	2,084	MANAUS	SUMAÚMA PARK SHOPPING	AM	North
12/11/14	SHOPPING MALL	2,209	MANAUS	SHOPPING VIA NORTE MANAUS	AM	North
12/11/14	SHOPPING MALL	2,092	SANTARÉM	RIO TAPAJÓS SHOPPING	PA	North
12/11/14	SHOPPING MALL	1,777	RIO DE JANEIRO	AMERICAS SHOPPING	RJ	Southeast
3/18/15	SHOPPING MALL	2,255	SAO JOSÉ DO RIBAMAR	SHOPPING PÁTIO NORTE	MA	Northeast
4/16/15	SHOPPING MALL	1,026	GUARULHOS	PARQUE SHOPPING MAIA	SP	Southeast
5/5/15	STREET	2,134	NOVA IGUAÇU	NOVA IGUAÇU	RJ	Southeast
6/2/15	SHOPPING MALL	956	FORTALEZA	SHOPPING ALDEOTA	CE	Northeast
6/25/15	SHOPPING MALL	978	CAMPINAS	CAMPINAS SHOPPING	SP	Southeast
6/30/15	SHOPPING MALL	1,975	PALMAS	SHOPPING CAPIM DOURADO	TO	North
8/27/15	SHOPPING MALL	2,281	BELEM	SHOPPING GRÃO PARÁ	PA	North
9/24/15	SHOPPING MALL	2,153	IPATINGA	SHOPPING DO VALE DO AÇO	MG	Southeast
9/24/15	STREET	1,393	SÃO PAULO	AUGUSTA	SP	Southeast
9/29/15	SHOPPING MALL	2,373	TERESINA	SHOPPING RIO POTY	PI	Northeast
10/30/15	SHOPPING MALL	2,049	PAULISTA	SHOPPING NORTH WAY PAULISTA	PE	Northeast
11/3/15	SHOPPING MALL	998	UBERLANDIA	UBERLÂNDIA SHOPPING	MG	Southeast
4/28/16	SHOPPING MALL	2,185	NOVA IGUAÇU	SHOPPING NOVA IGUAÇU	RJ	Southeast
5/21/16	SHOPPING MALL	2,178	SÃO PAULO	SHOPPING CANTAREIRA	SP	Southeast
6/1/18	STREET	1,976	SÃO JOSÉ DOS PINHAIS	SÃO JOSÉ DOS PINHAIS	SP	Southeast
10/1/18	SHOPPING MALL	2,061	CUIABÁ	SHOPPING ESTAÇÃO CUIABÁ	MT	Midwest
10/1/18	SHOPPING MALL	1,854	OLINDA	SHOPPING PATTEO OLINDA	PE	Northeast
10/1/18	SHOPPING MALL	2,099	CAMPINA GRANDE	PARTAGE CAMPINA GRANDE	PB	Northeast
4/25/19	SHOPPING MALL	1,994	CAMAÇARI	BOULEVARD SHOPPING CAMAÇARI	BA	Northeast
4/25/19	SHOPPING MALL	2,234	CAMARAGIBE	CAMARÁ SHOPPING	PE	Northeast
4/25/19	SHOPPING MALL	2,177	ANANINDEUA	SHOPPING METRÓPOLE ANANINDEUA	PA	North
6/5/19	SHOPPING MALL	2,013	CURITIBA	JOCKEY PLAZA SHOPPING	PR	South
9/19/19	SHOPPING MALL	1,397	ARAÇATUBA	SHOPPING PRAÇA NOVA	SP	Southeast
9/26/19	SHOPPING MALL	1,740	BLUMENAU	SHOPPING PARK EUROPEU	SC	South
10/1/19	SHOPPING MALL	2,191	MANAUS	SHOPPING GRANDE CIRCULAR	AM	North
10/3/19	SHOPPING MALL	2,130	FORTALEZA	SHOPPING MAR RIO KENNEDY	CE	Northeast
11/26/19	SHOPPING MALL	1,854	ARACAJU	ARACAJU PARQUE SHOPPING	SE	Northeast
12/5/19	SHOPPING MALL	1,751	CABO FRIO	SHOPPING PARK LAGOS	RJ	Southeast
3/17/20	SHOPPING MALL	2,130	LAURO DE FREITAS	PARQUE SHOPPING DA BAHIA	BA	Northeast
6/25/20	SHOPPING MALL	1,736	CARAPICUÍBA	PLAZA SHOPPING CARAPICUÍBA	SP	Southeast
6/30/20	SHOPPING MALL	2,126	SÃO BERNARDO DO CAMPO	GOLDEN SQUARE SHOPPING	SP	Southeast
7/14/20	SHOPPING MALL	1,865	SÃO LUIS	GOLDEN SHOPPING CALHAU	MA	Northeast
10/6/20	SHOPPING MALL	1,313	SALVADOR	SHOPPING CENTER LAPA	BA	Northeast
10/10/20	SHOPPING MALL	1,762	BRASILIA	ÁGUAS CLARAS SHOPPING	DF	Midwest
11/5/20	SHOPPING MALL	1,694	RIO GRANDE	PARTAGE SHOPPING RIO GRANDE	RS	South
11/12/20	SHOPPING MALL	1,319	CRICÚMA	NAÇÕES SHOPPING	SC	South
11/17/20	SHOPPING MALL	1,783	MOSSORÓ	PARTAGE SHOPPING MOSSORÓ	RN	Northeast
11/19/20	SHOPPING MALL	1,417	SÃO PAULO	SHOPPING ANÁLIA FRANCO	SP	Southeast
3/23/21	SHOPPING MALL	1,828	SÃO JOSÉ DOS CAMPOS	SHOPPING JARDIM ORIENTE	SP	Southeast
3/25/21	SHOPPING MALL	1,400	FOZ DO IGUAÇU	CATUAÍ PALLADIUM SHOPPING	PR	South
4/15/21	SHOPPING MALL	1,789	CAMPO GRANDE	SHOPPING NORTE SUL PLAZA	MS	Midwest
4/18/21	SHOPPING MALL	1,442	OSASCO	SUPER SHOPPING OSASCO	SP	Southeast
4/22/21	SHOPPING MALL	1,695	VOLTA REDONDA	SHOPPING PARK SUL	RJ	Southeast
4/26/21	SHOPPING MALL	1,839	GUARAPUAVA	SHOPPING CIDADE DOS LAGOS	PR	South
4/27/21	SHOPPING MALL	1,264	BRAGANÇA PAULISTA	BRAGANÇA GARDEN SHOPPING	SP	Southeast
4/29/21	SHOPPING MALL	1,682	VÁRZEA GRANDE	VÁRZEA GRANDE SHOPPING	MT	Midwest
4/29/21	SHOPPING MALL	2,526	RIO DE JANERO	SHOPPING RIO SUL	RJ	Southeast
6/4/21	SHOPPING MALL	1,512	UMUARAMA	SHOPPING PALLADIUM UMUARAMA	PR	South
6/14/21	SHOPPING MALL	1,425	CARPINA	SHOPPING CARPINA	PE	Northeast
7/27/21	SHOPPING MALL	1,987	GOIANIA	ARAGUAIA SHOPPING	GO	Midwest
8/3/21	SHOPPING MALL	1,184	ITABAIANA	SHOPPING PEIXOTO	SE	Northeast
8/3/21	SHOPPING MALL	1,264	PATOS	PATOS SHOPPING	PB	Northeast
9/23/21	SHOPPING MALL	1,754	LAGES	SHOPPING LAGES GARDEN	SC	South
10/28/21	SHOPPING MALL	1,677	SINOP	Shopping Sinop	MT	Midwest
11/18/21	SHOPPING MALL	1,612	RIO DE JANEIRO	Shopping Metropolitano	RJ	Southeast
11/19/21	SHOPPING MALL	2,058	RIO DE JANEIRO	Park Shopping Jacarepaguá	RJ	Southeast
11/23/21	SHOPPING MALL	1,612	PARAUAPEBAS	Partage Shopping Parauapebas	PA	North
11/23/21	SHOPPING MALL	1,209	TEIXEIRA DE FREITAS	Shopping Pátio Mix	BA	Northeast
11/23/21	SHOPPING MALL	1,830	PARNAÍBA	Parnaíba Shopping	PI	Northeast
11/25/21	SHOPPING MALL	1,385	CANOAS	ParkShopping Canoas	RS	South
11/29/21	SHOPPING MALL	1,738	ITAPETININGA	Itapê Shopping	SP	Southeast
12/2/21	SHOPPING MALL	1,179	ANGRA DO REIS	Shopping Piratas	RJ	Southeast
12/6/21	STREET	895	BOTUCATU	Loja de Rua Botucatu	SP	Southeast
12/8/21	SHOPPING MALL	1,395	GURUPI	Shopping Center Araguaia	TO	North
3/14/22	SHOPPING MALL	1,775	MARINGA	Shopping Cidade Maringá	PR	South
3/21/22	SHOPPING MALL	1,712	SÃO PAULO	Shopping Trimais Hiper Center	SP	Southeast
4/4/22	SHOPPING MALL	1,609	ALTAMIRA	Shopping Serra Dourada	PA	North
4/19/22	STREET	1,521	MURIAÉ	Loja de Rua Muriaé	MG	Southeast
4/28/22	STREET	1,307	BARBACENA	Loja de Rua Barbacena	MG	Southeast
4/28/22	SHOPPING MALL	1,582	DIVINÓPOLIS	Shopping Pátio Divinópolis	MG	Southeast
5/16/22	SHOPPING MALL	1,667	PORTO ALEGRE	Barra Shopping Sul	RS	South
5/23/22	SHOPPING MALL	1,402	GOIÂNIA	Shopping Cerrado	GO	Midwest
5/27/22	SHOPPING MALL	1,181	RESENDE	Shopping Mix Resende	RJ	Southeast
5/30/22	SHOPPING MALL	1,596	TRÊS LAGOAS	Shopping Três Lagoas	MS	Midwest
6/9/22	SHOPPING MALL	1,474	LONDRINA	Boulevard Londrina Shopping	PR	South
6/25/22	STREET	1,382	BARREIRAS	Loja de Rua Barreiras	BA	Northeast
8/4/22	STREET	1,612	ANÁPOLIS	Loja de Rua Anápolis	GO	Midwest
8/31/22	STREET	1,453	SÃO PAULO	Loja de Rua Sâo Bento Centro	SP	Southeast
9/6/22	SHOPPING MALL	1,225	SÃO PAULO	Shopping Mais	SP	Southeast
9/15/22	SHOPPING MALL	1,432	FENANDÓPOLIS	Shopping Center Fernandópolis	SP	Southeast
11/17/22	SHOPPING MALL	1,477	RIO JANEIRO	Shopping Boulevard Rio	RJ	Sudeste
Region	Number of stores	Estate	Number of stores
Northeast	75	AC	1
North	23	AL	5
South	33	AM	6
Southeast	174	AP	2
Midwest	26	BA	16
Total	331	CE	12
DF	8
ES	7
GO	10
MA	8
MG	24
MS	4
MT	4
PA	10
PB	6
PE	15
PI	4
PR	14
RJ	46
RN	4
RO	1
RR	1
RS	11
SC	8
SE	5
SP	97
TO	2
Total	331