Brazil’s Magazine Luiza posts Q2 adjusted net loss of $21.76 million By Reuters


© Reuters. FILE PHOTO: The logo of retail Magazine Luiza S.A. is seen in their logistics center in Louveira, Brazil April 24, 2018. REUTERS/Paulo Whitaker To match Insight AMAZON.COM-BRAZIL/RIVALS

SAO PAULO (Reuters) – Brazilian retailer Magazine Luiza SA posted on Thursday an adjusted net loss of 112.1 million reais ($21.76 million), posting a loss for the second straight quarter as its bottom line was hurt by the country’s high interest rate.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 8% year-on-year to 492.1 million reais.

($1 = 5.1505 reais)

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