Marissa’s CEO, João Pinheiro Nogueira Batista, assured the corporate that it’ll shut 91 bodily shops in its chain by the tip of 2023. The determine represents greater than 27% of the 334 items the chain had in January of this 12 months.

In keeping with the knowledge launched by the corporate, 4 of those 91 shops have already been closed. All of those items will probably be loss-making, that’s, it is going to be a loss for the corporate. The operation should symbolize a rise of R$62 million within the firm’s income.

Between March and April 2023 alone, 25 shops closed. In Could and June, one other 33 items will probably be closed. The corporate additionally notes that retail gross sales income grew 1.3% and exceeded R$440 million within the first quarter of 2023, “even with 14 shops closed within the earlier 12 months.”

The corporate’s restoration plan additionally supplies for a discount of R$52 million in annual bills. The intention is to scale back prices, enhance operations and maximize income in order that the corporate can cut back its debt, which exceeded the edge of half a billion riyals firstly of the 12 months.

Along with the R$600 million in debt, Marisa’s monetary disaster can be punctuated by a 72% drop within the worth of her shares in a single 12 months and 10 actions to throw out bodily shops throughout Brazil.

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