Lojas Quero-Quero (LJQQ3) Q2 2026 earnings summary

Executive summary

• Operations evolved consistently with expectations despite a challenging macroeconomic environment and high cost of capital.

• Achieved 6.7% same store sales growth and 9.7% increase in total revenue in 2Q26, with 576 stores as of June 2026 and continued operational efficiency initiatives.

• Strategic focus on market share, customer value, financial discipline, and credit quality drove performance, with double-digit growth in financial services and credit card revenues.

• Digital sales accounted for 23% of total sales, reflecting a strong omnichannel approach.

• Leadership development advanced, with 26 new store managers graduated and 254 employees in the program.

Financial highlights

• Gross revenue reached R$834.5 million in 2Q26, up 9.7% year-over-year; net operating revenue was R$726.3 million, up 8.8%.

• EBITDA was R$32.6 million (+12.6% YoY); adjusted EBITDA was R$2.1 million (-28% YoY).

• Net loss of R$51.2 million in 2Q26 (vs. R$46.0 million loss in 2Q25); adjusted net loss of R$30.3 million.

• Gross margin over net revenue was 29.7% (down 2.6p.p. YoY); operating expenses decreased 0.9% YoY.

• Same-store sales grew 6.7% YoY; retail revenue grew 8.0% YoY, representing 67.4% of total revenue.

Outlook and guidance

• No significant market growth expected in H2 2026 due to high interest rates; focus remains on gaining market share and operational improvement.

• Cash generation is expected to improve in the second half, following historical seasonality.

• Net debt is projected to remain stable or decrease in Q3 2026, with continued working capital discipline.

• Management maintains a conservative credit approach to control delinquency and support future portfolio quality.