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Lojas Americanas Q2 profit climbs YOY

Lojas Americanas SA said its second-quarter normalized net income was 44.6 million reais, an increase from 14.2 million reais in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 1.1% from 0.4% in the year-earlier period.

Total revenue came to 3.94 billion reais, compared with 3.98 billion reais in the prior-year period, and total operating expenses declined on an annual basis to 3.51 billion reais from 3.63 billion reais.

Reported net income grew from the prior-year period to 50.6 million reais, or 4 centavos per share, from 17.3 million reais, or 1 centavos per share.

As of Aug. 11, US$1 was equivalent to 3.13 reais.