Magazine Luiza reported strong financial results for 1Q11, with gross revenue increasing 51.6% year-over-year to R$1.696 billion. Same store sales grew 25.6% and EBITDA rose 38.8% to R$84 million. Net income increased 31.7% to R$12.3 million. The company continued its rapid expansion, opening 148 new stores in the quarter and growing its store base to 604 locations across Brazil. Magazine Luiza also saw significant growth in its private label credit card Luiza Card, with the number of cards issued up 61.4% and interest revenue up 62.2%. The results demonstrated the company's successful multi-channel strategy and

1. 1Q11 Results
May 16, 2011

2. Disclamer
This document contains some statements and information about the Company that reflect the current
views and/or expectations of the Company and its managers with regard to its activities. These
include all statements containing forecasts and projections or that indicate or imply future results,
performance or achievements, which may include such words as "believe", "predict", "expect",
"contemplate", "will probably result", or any other words or expressions of similar meaning. Such
statements are subject to a series of expressive risks, uncertainties and assumptions. Readers are
warned that several important factors may lead actual results to significantly diverge from the plans,
targets, expectations, estimates and intentions expressed herein, there can be no assurance that the
Company will achieve or is likely to achieve the future results or projections contained herein. Under
no circumstances shall the Company or its directors, officers, representatives or employees be liable
to any third parties (including investors) should they make decisions, investments or business acts
based on information and statements presented herein, nor shall the Company be liable for any
indirect damages, loss of profit, or similar consequences thereof. The Company does not intend to
provide any revised versions of the statements or analysis of differences between the statements and
actual results.
THE INITIAL PUBLIC PRIMARY OFFERING OF COMMON SHARES (“SHARES”) OF MAGAZINE
LUIZA S.A. (“COMPANY” AND “OFFERING,” RESPECTIVELY) IS IN PROGRESS. THIS REPORT
SHOULD IN NO WAY BE CONSIDERED A RECOMMENDATION FOR INVESTMENT. BEFORE
INVESTING IN THE SHAES, POTENCIAL INVESTORS SHOULD CARRY OUT THEIR OWN
ANALYSIS AND EVALUATON OF THE COMPANY, ITS BUSINESS AND ITS FINANCIAL
CONDISTIONS AND THE RISKS INVOLVED IN INVESTING IN THE SHARES. INVESTORS
SHOULD READ CAREFULY THE OFFERING PROSPECUTS, ESPECIALLY THE SECTION “RISK
FACTORS.”
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3. IPO
Shares began trading on the
BM&FBovespa on May 2, 2011
 Novo Mercado: companies with the
highest standards of corporate governance
 Initial price per share: R$16.00
 Market value at IPO: R$3.0 bi
Bovespa “dressed” as a Magazine
 Participation of retail investors Luiza store
 Historic Campaign: focus on education,
clarity and transparency
 Incentives for employees
Example of the Campaign
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4. Our Differentiated Business Model
Strong corporate culture focused on
appreciated people
Broad customer base with customer relationship
management focusing on loyalty and retention
Integrated sales plataform through multiple
channels
Broad, competitive portfolio of
finacial products and services
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5. Corporate Structure
100% 40.55% 50% 100%
1 2
9.45%
(1) JV with Itaú Unibanco
(2) JV with Cardif
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6. Our Geographic Footprint
604 stores in Brazil’s main regions (75% of GDP)
Cabedelo
Acquisition in Aug/2010
Simões Filho
Contagem Northeast
Ribeirão Preto South
Ibiporã Louveira Mid-West
Navegantes
Caxias
Southeast
States with stores (604)
Distribution Center (8)
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7. History of proven growth with strong organic growth and
successful acquisitions
Continuous growth in adverse economic conditions
CAGR of Gross Retail Revenue 2000-2010: 25.8%
604
455
444
391 5.3
351 346
253
3.8
3.2
174 2.6
2.2
127 1.9
111
96 1.4
0.9
0.6 0.7
0.5
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Gross Operating Revenue - Retail (R$ billion) Total Number of Stores
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8. Magazine Luiza Service
Magazine Luiza
was elected 5th
best service in
an Exame/IBRC
study
(May/2011)
SOURCE: Exame Magazine, May 4, 2011
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9. 1Q11 Highlights
Gross Revenue of R$1,696 MN in the
quarter ( +51.6% Y-o-Y)
25.6% increase in same stores sales in
retail
EBITDA of R$84 MN ( +38.9% Y-o-Y),
with EBITDA margin at 5.9%
Net Income of R$12.3 MN
( +31.7% Y-o-Y)
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10. Accelerated Expansion
Growth in Number of Stores Average Age of Stores
+148 stores
57 386
11
604
150
456
até 1 ano de 1 a 2 anos de 2 a 3 anos acima de 3 anos
1Q10 1Q11
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11. High Growth Rates
Same Store Sales Growth (in %) Internet Revenues (R$ MM)
+58.2%
174
33.0%
28.7% 25.6% 110
21.7%
1Q10 1Q11 1Q10 1Q11
Same Physical Stores Sales Growth Same Store Sales Growth
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12. Significant participation of Luiza Card
Means of Payment (in %)
23% 24% 26%
31%
24% 31% 26%
27% 28% 32%
28% 32%
13% 48%
12% 48% 10%
12% 10%
37% 36% 1%
33%
1% 20%
36% 33%
20%
Magazine Luiza (1Q10) Magazine Luiza (1TQ11) Lojas Maia (1Q11) Consolidated (1Q11)
Luiza Card CDC Third party cards Single Installment Sales/Down Payment
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13. Above 50% Growth in Gross Revenues
Gross Revenue (R$ MM) Net Revenue (R$ MM)
+51.6% +50.5%
1,696
1,119 1,416
1,119
941
1Q10 1Q11 1Q10 1Q11
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14. Gross Income and Operating Expenses
Gross Income (R$ MM) Operating Expenses (R$ MM)
450 60,0%
500 +38.6% 470 60,0%
400 386
450 +38.5%
350 50,0%
400 50,0%
339 300 278
350
40,0%
300 36,0% 40,0% 250
33,2%
250 200 29,5%
27,2% 30,0%
200 30,0%
150
150
100 20,0%
100 20,0%
50
50
- 10,0% - 10,0%
1Q10 1Q11 1Q10 1Q11
Gross Income Gross Margin Operating Expenses % of Net Revenue
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15. EBITDA and Net Income
EBITDA (R$ MM) Net Income (R$ MM)
+38.8% 14 +31.7% 5,0%
90 84 20,0% 12 4,5%
18,0% 12
80 4,0%
70 16,0% 10 9
60 14,0%
3,5%
60 3,0%
8
12,0%
50 2,5%
10,0% 6
40 2,0%
6,4% 8,0%
5,9% 4 1,5%
30 1,0% 0,9%
6,0%
1,0%
20 4,0% 2
0,5%
10 2,0%
- 0,0%
- 0,0% 1Q10 1Q11
1Q10 1Q11 Net Income Net Margin
EBITDA EBITDA Margin
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16. Luiza Card
Total Base (em mil) Revenue (R$ MM)
 86% of cards are
active
 Interest-free
sales mostly with
+61.4% +62.2% 1,201 the Luiza Card,
represent less than
15% of the
740 715 Company’s total
sales
3.463
390
2.146 218
145
205 268
1Q10 1TQ11
Luiza Card - ML + interest
Luiza Card ML interest free
Purchases with Luiza Card
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17. Luizacred
Revenue (R$ MM) and PDD/Revenue (%) Portfolio (R$ MM) and PDD/Portfolio (%)
3.000 5,0%
250 234 60,0%
4,5%
2.500
2.424
55,0% 4,0%
200 186
3,5%
50,0% 2.000
1.696 3,0%
150
44,0% 1.500 2,5%
45,0%
41,9%
100 1,6% 2,0%
40,0% 1.000 1,4%
1,5%
50 1,0%
35,0% 500
0,5%
- 30,0% - 0,0%
1T10 1T11 1T10 1T11
Portfolio
Revenue
Provision for non losses/Revenue Provision for non losses/Portfolio
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18. Contact
Roberto Bellissimo Rodrigues
Chief Financial and Investor Relations Officer
Anderson Rezende
Investor Relations Analyst
Contact
Phone: +55 (11) 3504-2727
E-mail: ri@magazineluiza.com.br
Website: www.magazineluiza.com.br/ri
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