Business · Companies · 46 mins ago

Americanas reports a 352 million reais loss in third-quarter results

Americanas reports a 352 million reais loss in third-quarter results

Brazilian retailer Americanas reported a 352 million reais net loss for the third quarter, reversing a 367 million reais profit in the same period a year earlier.

The company was under court-supervised recovery until October and sold assets and closed stores during the process.

Its net revenue rose 10% to 2.97 billion reais compared with a year earlier.

Adjusted EBITDA, a measure of operating performance, fell to 52 million reais from 558 million.

Sales at stores open for the same period grew 7.3%.

The results show revenue growth alongside a return to losses, but no further steps were stated.

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