Retail: São Paulo
Key Facts
—Results. RD Saúde, owner of Raia Drogasil, reported adjusted net income of R$432.7 million (about US$85 million) for the second quarter of 2026, up 7.4% from a year earlier.
—Underlying. Excluding its 4Bio unit, adjusted net income was R$424 million (about US$83 million), a 23.4% annual gain; reported net income was R$348.4 million (about US$69 million).
—Sales. Net revenue reached about R$11 billion (about US$2.2 billion), up 9.8%, with adjusted EBITDA of R$1.017 billion (about US$200 million).
—Stix. RD Saúde took full control of loyalty program Stix, buying the 66.67% stake held by GPA for R$23 million (about US$4.5 million).
—Footprint. The company ended June with 3,687 pharmacies, after 76 openings and three closures in the quarter.
RD Saúde, the São Paulo owner of Brazil’s Raia and Drogasil pharmacy chains, lifted second-quarter profit and took full control of loyalty venture Stix, underscoring its push to deepen customer data and scale.
Higher Profit in the Second Quarter
RD Saúde (B3: RADL3), Brazil’s largest drugstore operator and owner of the Raia and Drogasil chains, reported adjusted net income of R$432.7 million (about US$85 million) for the second quarter of 2026, a 7.4% increase from the same period a year earlier. Results were released on 4 August 2026.
Stripping out the 4Bio specialty-medicine unit, which the company is selling, adjusted net income was R$424 million (about US$83 million), up 23.4%. Reported net income, before adjustments, was R$348.4 million (about US$69 million).
Net revenue came in at about R$11 billion (about US$2.2 billion), up 9.8% year on year. Adjusted EBITDA, a measure of operating profit, rose 17.9% to R$1.017 billion (about US$200 million), with margin steady near 8% of gross revenue.
Taking Full Control of Stix
Alongside its results, RD Saúde has moved to full ownership of Stix, a loyalty and customer-intelligence program it had run jointly with retailer GPA (Grupo Pão de Açúcar). The board approved buying GPA’s remaining 66.67% stake, valued at R$23 million (about US$4.5 million).
With that purchase, RD Saúde holds 100% of Stix. The seller, GPA, framed the sale as part of a broader effort to simplify its operations and shore up its finances; the deal required clearance from Brazil’s antitrust regulator, CADE.
Launched in 2020, Stix lets shoppers accumulate and redeem points across partner retailers. Owning it outright gives RD Saúde direct control of a data platform that tracks buying habits — valuable for pricing, marketing and private-label strategy.
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Why the Stix Deal Matters
Loyalty programs have become a competitive battleground for retailers because they generate first-party data: detailed records of what customers buy and how often. That information can sharpen promotions and lift repeat purchases.
For RD Saúde, folding Stix in-house aligns the program tightly with its pharmacies and digital channels, rather than sharing strategy and data with a supermarket partner whose priorities differ.
The modest price — R$23 million (about US$4.5 million) — is small relative to the company’s quarterly profit, suggesting the value lies in control and data rather than the venture’s current earnings.
Expanding the Store Network
RD Saúde ended June with 3,687 pharmacies, after opening 76 stores and closing three during the quarter. Steady expansion has underpinned its revenue growth and its lead over rivals such as Pague Menos.
Brazil’s drugstore sector has proved resilient, supported by an aging population, the essential nature of medicines and the chains’ push into higher-margin health, beauty and services offerings.
The company has also been testing new store formats, including beauty-focused concepts, as it competes for share in personal care against specialist retailers.
The Investor View
The market tends to focus on adjusted figures because they strip out one-off items tied to the 4Bio sale and other moves. On that basis, the quarter extended a run of double-digit gains once 4Bio is excluded.
Investors will watch whether revenue growth and stable margins hold as interest rates and consumer spending shift, and how quickly RD Saúde turns Stix’s data into measurable sales gains.
For a defensive, cash-generative retailer, the combination of steady earnings, network expansion and a tighter grip on customer data is the core of the investment case.
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Frequently Asked Questions
How much did RD Saúde earn in Q2 2026?
RD Saúde reported adjusted net income of R$432.7 million (about US$85 million), up 7.4% year on year. Excluding the 4Bio unit, adjusted net income was R$424 million (about US$83 million).
What is the Stix acquisition?
RD Saúde bought GPA’s 66.67% stake in the Stix loyalty program for R$23 million (about US$4.5 million), taking full ownership of the customer-data platform.
How many pharmacies does RD Saúde operate?
The company ended June 2026 with 3,687 pharmacies, after 76 openings and three closures during the quarter.
Sources
InfoMoney/Reuters · Poder360 · Diário do Grande ABC · Seu Dinheiro (Stix)
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Sources: InfoMoney/Reuters; Poder360; Diário do Grande ABC; Seu Dinheiro.
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