Sales of Magazine Luiza advance in the quarter

SÃO PAULO-next month, when the Magazine Luiza, the second largest retailer of appliances and furniture in the country, disseminating the results of the last quarter of 2016, the performance will be in the opposite direction of the deeper and long recession that the brazilian economy is facing.
I can tell you we 2016 very well and our last quarter was better than the last quarter of 2014, which was a pre-crisis moment, said the President of retailer, Frederico Trajano. He points out that was easy to grow in relation to the 4th quarter of 2015 because the economy was already in recession.
The company, he said, partly benefited because the competition was too hurt by the crisis. ? There are many smaller competitors, they lost because they didn''t have liquidity or market condition of purchase of products, he said.
The other part of the good performance Trajan gives the fact the retailer have reduced costs, becoming more efficient. In the first semester of 2016, the company renegotiated rental agreements and not opened shops. The openings were concentrated in the second half and whole last year 20 points of sale were opened, less than half the historical average.
Without revealing the numbers from last quarter of 2016, the President of the company said that the adoption of this strategy resulted in the advancement of e-commerce, which accounted for 25% of net sales in the third quarter, and in the marginal growth of turnover in the physical stores. In the third quarter, the results disclosed showed an upset: net profit of R$ against loss of R$ 19,100,000 24,800,000 in 2015.
Trajano believed that the company is very well prepared to take advantage of economic recovery that it expects for this year. ? I am cautiously optimistic for 2017.
Record settlement
Part of that optimism is based on the results of the traditional settlement named? amazing? the company makes for the 24th year in a row on the first Friday of January. In the event of yesterday, the billing record, did Trajan.
Up to 12:30 yesterday, 4 hours before the same day the settlement of 2016, the celebrated Executive who had hit sales targets. ? Pressure cookers and 6 iPhones sold out.
The network sold 160,000 pressure cookers and over 500,000 cell phones, all models. In just one day, the network sold the equivalent of 15 days normal, on average of all products on offer. For some items, such as fans and air conditioners, were sales revenues of 40 days.
Trajan attributed the record sale repressed consumption and noted that the settlement indicates how must be the year: When the settlement is good, we have a good year ahead?.