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Lojas Quero-Quero (LJQQ3) investor relations material
Lojas Quero-Quero Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Gross revenue grew 3.8% year-over-year to R$3,172.3 million in 2025, with 21 new stores opened, ending the year with 586 stores across 497 cities; 27 stores renovated.
Digital and phygital sales reached a record 28% of total sales in Q4, up 3 percentage points year-over-year.
Same-store sales declined 1.8% for the year and 2% in Q4, but improved sequentially during the quarter.
Credit portfolio expanded 18% year-over-year, with VerdeCard delinquency stable at 11.1%.
Net income turned negative, with a net loss of R$161.9 million in 2025, compared to near break-even in 2024.
Financial highlights
Net operating revenue increased 4.6% year-over-year to R$2,788.4 million.
Adjusted EBITDA for 2025 was R$34.9 million (1.1% margin), down 62.9% year-over-year, impacted by operational deleveraging and higher costs.
Gross margin over net revenue was 32.4% in 2025, down 2.4 p.p. from 2024.
Adjusted net loss was R$95.2 million in 2025, compared to a loss of R$18.1 million in 2024.
Net financial expenses rose 38.1% to R$167.0 million, driven by higher Selic rates.
Outlook and guidance
Management expects interest rate reductions in 2026, which could boost sales and credit demand.
Expansion of the personal income tax exemption and absence of extreme weather events are expected to benefit the core agricultural regions.
Focus remains on cash flow, operational efficiency, and market share gains.
Expansion pace will remain cautious, with new store openings tied to cash generation and market improvement.
Early 2026 shows a more positive sales trend, with January year-over-year growth and optimism for continued recovery.
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