Magazine Luiza S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 13, 2023
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Magazine Luiza S.A. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was BRL 8,572.26 million compared to BRL 8,562.39 million a year ago. Net loss was BRL 301.75 million compared to BRL 135 million a year ago. Basic loss per share from continuing operations was BRL 0.045. Diluted loss per share from continuing operations was BRL 0.045.
For the six months, sales was BRL 17,639.59 million compared to BRL 17,324.57 million a year ago. Net loss was BRL 692.97 million compared to BRL 296.3 million a year ago. Basic loss per share from continuing operations was BRL 0.104 compared to BRL 0.044 a year ago. Diluted loss per share from continuing operations was BRL 0.104 compared to BRL 0.044 a year ago.
Magazine Luiza S.A. specializes in mass distribution. Also, the group offers financial services. Net sales (before intragroup) break down by activity as follows:
- retail distribution (92%): sales of consumer products, appliances, consumer electronics, computer products, furniture, garden items, toys, personal care and beauty products, clothing, sports and leisure goods, etc. At the end of 2021, products are distributed through a network of 1,051 conventional stores, 236 virtual stores, 194 kiosks and via the Internet;
- financial services (3.6%): mainly provision of consumer credit;
- insurance (0.9%);
- other (3.5%).
Brazil accounts for all net sales.
MAGAZINE LUIZA S.A. 
