Magazine Luiza S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 10, 2022
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Magazine Luiza S.A. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was BRL 8,562.39 million compared to BRL 9,013.31 million a year ago. Net loss was BRL 135 million compared to net income of BRL 95.54 million a year ago.
For the six months, sales was BRL 17,324.57 million compared to BRL 17,266.12 million a year ago. Net loss was BRL 296.3 million compared to net income of BRL 354.18 million a year ago. Basic loss per share from continuing operations was BRL 0.044 compared to basic earnings per share from continuing operations of BRL 0.055 a year ago. Diluted loss per share from continuing operations was BRL 0.044 compared to diluted earnings per share from continuing operations of BRL 0.054 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. 
