BRAZIL - Via Varejo reported net income of R$ 179 million in 1Q14, up 57% from 1Q13, with net margin of 3.3%.

In 1Q14, consolidated gross sales revenue was R$ 6.244 billion, with growth of 6.1% on a total-store basis and 3.6% on a same-store basis. Net sales revenue amounted to R$ 5.449 billion, representing growth of 5.9%. In 1Q14, Via Varejo’s EBITDA came to R$ 485 million, an increase of 44% over 1Q13, with margin of 8.9%, up 240 bps.

Via Varejo operates 1001 stores in 18 Brazilian states and the Federal District, of which 393 are Pontofrio and 608 are Casas Bahia stores. Via Varejo has more than 67,000 employees. In 1Q14, the company inaugurated eight Casas Bahia stores, four of them in the Northeast (two in Alagoas, and one each in Sergipe and Ceará), two in the Southeast (Minas Gerais), one in the Midwest (Goiás) and one in the North (Tocantins).