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

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)