Magazine Luiza S.A. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 12, 2023
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Magazine Luiza S.A. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was BRL 8,578.82 million compared to BRL 8,807.02 million a year ago. Net income was BRL 331.23 million compared to net loss of BRL 190.87 million a year ago. Basic earnings per share from continuing operations was BRL 0.05 compared to basic loss per share from continuing operations of BRL 0.029 a year ago. Diluted earnings per share from continuing operations was BRL 0.049 compared to diluted loss per share from continuing operations of BRL 0.029 a year ago.
For the nine months, sales was BRL 26,218.41 million compared to BRL 26,131.58 million a year ago. Net loss was BRL 269.18 million compared to BRL 665.13 million a year ago. Basic loss per share from continuing operations was BRL 0.04 compared to BRL 0.1 a year ago. Diluted loss per share from continuing operations was BRL 0.04 compared to BRL 0.1 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. 
