Magazine Luiza S.A. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 14, 2024
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Magazine Luiza S.A. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was BRL 13,062.5 million compared to BRL 13,515.8 million a year ago. Revenue was BRL 10,549.7 million compared to BRL 11,167.4 million a year ago. Net income was BRL 101.5 million compared to net loss of BRL 15.2 million a year ago.
For the full year, the company reported sales was BRL 45,591 million compared to BRL 45,189 million a year ago. Revenue was BRL 36,768.1 million compared to BRL 37,299 million a year ago. Net loss was BRL 550.1 million compared to BRL 372.1 million 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.