Magazine Luiza S A : Brazil's Magazine Luiza posts $89 mln profit in Q4 boosted by ecommerce

SAO PAULO, March 8 (Reuters) - Brazil retailer Magazine Luiza reported profits of 523 million reais ($89.01 million) in the fourth quarter on Monday, in line with expectations and 40% higher than last year as pandemic lockdowns helped boost ecommerce demand.

Sales grew 66% to 14.9 billion reais, driven by its ecommerce division which more than doubled in revenue. ($1 = 5.8755 reais) (Reporting by Aluisio Alves Editing by Chris Reese)