Q2 2024 Lojas Quero-Quero SA Earnings Call Transcript
Key Points
- Lojas Quero-Quero SA (BSP:LJQQ3) reported a 10% growth in same-store sales, indicating a positive trend in retail performance.
- The company opened 10 new stores, expanding its footprint and focusing on smaller cities for faster cash generation.
- Digital sales accounted for 24% of total sales, showing steady growth and providing a platform for future expansion without significant physical store investments.
- The company demonstrated strong community support during the floods in Rio Grande do Sul, providing aid and selling products at cost to affected customers.
- Lojas Quero-Quero SA (BSP:LJQQ3) secured BRL150 million in cash from a legal settlement, enhancing its financial position.
- The floods in Rio Grande do Sul negatively impacted 12 stores, with additional costs incurred for recovery and donations.
- The company experienced a slight increase in delinquency rates due to the floods, affecting credit and collection performance.
- Retail margins were affected by selling products at cost price during the floods, impacting overall profitability.
- The macroeconomic environment remains challenging, with interest rates not decreasing as expected, potentially affecting consumer spending.
- Despite growth, the company faced a negative cash flow in the first half of the year, consistent with historical seasonality but still a concern.
Good morning, everyone, and thanks for waiting. Welcome to the presentation and discussion of the results of the second quarter of Lojas Quero-Quero. I'm Flavio Abrantes, IR Officer. And today with me are Peter Furukawa, CEO; and Jean Mello, CFO and IR Officer.
To start the presentation, we are going to start with slide 3 with the agenda of our meeting. Our agenda today, we will approach our pillars then expansion and projects, and then we are going to talk about the earnings of the second quarter '24. Finally, we are going to open for your questions.
I'm going to start with slide 4, and I'm going to turn to Peter Furukawa. Peter?
Good morning, everyone. It's always a pleasure to be able to talk to you.
We are talking about the second quarter of 2024. Well, this year started a bit tougher, but the second quarter a bit better. As most of you probably have read the release before, so there are no major
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