August 9, 2019 / 12:48 AM / in 2 months

Brazilian e-commerce firm B2W posts higher Q2 loss

SAO PAULO, Aug 8 (Reuters) - Brazilian retailer B2W Companhia Digital SA posted on Thursday a second-quarter net loss that was 15.1% higher year-on-year, missing market expectations.

In a securities filing, the company said its quarterly net loss widened to 127.6 million reais ($32.6 million) compared with a loss of 110.9 million reais a year ago.

Analysts on average expected a net loss of 116.58 million reais, according to Refinitiv data.

Adjusted earnings before interest, taxes, depreciation and amortization, a gauge of cash generation known as EBITDA, hit 110.2 million reais in the second-quarter, up 16.2% from the same period of 2018 and above a consensus estimate of 94.43 million reais compiled by Refinitiv.

Gross merchandise volume (GMV), which measures total online, including third-party transactions, jumped by 21.8% to 3.89 billion reais, as the company increased the number of sellers in its marketplace platform by 15.6% in the period.

“We reiterate our goal for 2019 to grow double the market and achieve positive cash generation,” the management said in the filing.

B2W, which operates local e-commerce brands Submarino, Americanas.com, Sou Barato and Shoptime, is a subsidiary of brick-and-mortar retailer Lojas Americanas, with over 1,500 stores across Brazil. ($1 = 3.9190 reais) (Reporting by Gabriela Mello; Editing by Lisa Shumaker)

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