Magalu começa a surfar a crise das Casas Bahia
O Magazine Luiza reportou um terceiro trimestre com números ainda pressionados, mas divulgou dados que mostram que está conseguindo surfar a crise de seu principal concorrente – ganhando share e acelerando de forma significativa o crescimento da receita. Junto com o resultado do tri, a companhia da família Trajano reportou dados relativos ao mês de outubro, que mostram um crescimento de 16% nas…
Magalu surges as Casas Bahia faces crisis; gains market share, accelerates revenue growth
The Magalu report for the third quarter indicates a challenging period for the company, but the data reveals significant progress in bouncing back from its main competitor's crisis. Magalu is gaining market share and accelerating revenue growth, according to the Trajano family-owned company. Along with the tri report, the company also disclosed October figures, showing a 16% increase in physical stores compared to the previous year and a 14% increase in 1P ecommerce.
Roberto Bellissimo, the CFO of Magalu, explained to Brazil Journal that the market consolidation, with competitors closing numerous stores, creates a unique opportunity for Magalu to gain share without needing additional working capital or incurring extra expenses. In August, Casas Bahia, which is undergoing judicial recovery, closed 300 stores and laid off over 3,000 employees.
Recently, the company announced plans to close another 200 stores. Casas Bahia had 1,040 stores in March, and after these 500 closures, it will have 540 stores, compared to Magalu's 1,300 stores.
Written by urgent.news from Brazil Journal's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
