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Lojas Americanas Q1 profit falls 9.3% YOY

Lojas Americanas SA said its first-quarter normalized net income amounted to 1 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 2 centavos per share.

EPS fell 9.4% year over year from 2 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 21.3 million reais, a decline of 9.3% from 23.4 million reais in the prior-year period.

The normalized profit margin declined to 0.5% from 0.7% in the year-earlier period.

Total revenue climbed 20.7% year over year to 4.10 billion reais from 3.39 billion reais, and total operating expenses rose 21.2% year over year to 3.76 billion reais from 3.10 billion reais.

Reported net income fell 14.3% from the prior-year period to 22.2 million reais, or 2 centavos per share, from 25.9 million reais, or 2 centavos per share.

As of May 8, US$1 was equivalent to 2.99 reais.