Marissa’s CEO, João Pinheiro Nogueira Batista, assured the company that it will close 91 physical stores in its chain by the end of 2023. The figure represents more than 27% of the 334 units the chain had in January of this year.
According to the information released by the company, four of these 91 stores have already been closed. All of these units will be loss-making, that is, it will be a loss for the company. The operation must represent an increase of R$62 million in the company’s profits.
Between March and April 2023 alone, 25 stores closed. In May and June, another 33 units will be closed. The company also notes that retail sales profits grew 1.3% and exceeded R$440 million in the first quarter of 2023, “even with 14 stores closed in the previous 12 months.”
The company’s recovery plan also provides for a reduction of R$52 million in annual expenses. The aim is to reduce costs, improve operations and maximize profits so that the company can reduce its debt, which exceeded the threshold of half a billion riyals at the beginning of the year.
In addition to the R$600 million in debt, Marisa’s financial crisis is also punctuated by a 72% drop in the price of her shares in one year and 10 actions to throw out physical stores across Brazil.
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