Magazine Luiza hold loss of $ 1.45 mm

Magazine Luiza’s e-commerce sales skyrocketed 72.6% in the first quarter of 2020, compared to a year earlier, but failed to overcome the negative effects of closing stores due to the coronavirus. The retailer, accustomed to accumulating profits on each balance sheet, presented an adjusted net loss of R$ 8 million ($ 1.45 million).

Source: Money Times