Via Varejo S.A. Reports Consolidated Earnings Results for the Second Quarter of 2018
July 24, 2018 at 01:00 pm EDT
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Via Varejo S.A. reported consolidated earnings results for the second quarter of 2018. The company reported growth in consolidated net revenue of 5.1% reaching BRL 6.7 billion. The company had a positive cash generation in the period. Although operating strategically with higher inventories and with a high level of CapEx going from BRL 32 million in the second quarter 2017 to BRL 157 million in the second quarter of 2018. The company announced that the net financial results before the restatement of some of the net sales, and have an important evolution in net income and the loss that was BRL 85 million in the second quarter of 2017, became a net income in BRL 22 million in 2018, the highest ever net earnings since 2014 in this quarter.
Grupo Casas Bahia SA, formerly known as Via SA is a Brazil-based company engaged in multichannel retail of consumer electronics and furniture. The Company operates in the consumer electronics, home appliance, mobile phone and furniture retail segments through Casas Bahia and Ponto Frio banners, as well as through the e-commerce platforms: pontofrio.com, casasbahia.com and extra.com.br. The Company has over 1000 stores and is present in more than 20 Brazilian states. In addition, it owns Bartira, a furniture manufacturer, that makes furniture for bedrooms, kitchens and living rooms, among other things, which are sold exclusively at Casas Bahia and Pontofrio stores. The Company provides also financial services, such as consumer finance, through credits and co-branded credit cards.
GRUPO CASAS BAHIA S.A. 
