Vamos, Grupo SBF, and Lojas Quero-Quero Face Tight Margins in Brazil’s Q2 2025

Brazilian firms Vamos, Grupo SBF, and Lojas Quero-Quero each faced a tough environment in the second quarter of 2025, with rising costs, shifting consumer demand, and volatile macroeconomic conditions shaping their results.

The details below show how these companies are adjusting strategies, managing profits and losses, and preparing for an uncertain future. Vamos rents and resells trucks, machines, and equipment nationwide.

Grupo SBF owns the Centauro sporting goods chain and operates Nike stores in Brazil, while Lojas Quero-Quero is a leading builder’s merchant focused on construction materials, home improvement, and household goods.

All three rely on scale and careful cost control to compete in a challenging Brazilian market. Behind every headline about profit, loss, and revenue, an underlying story emerges.

None of these companies can fully escape the impact of Brazil’s financial realities, but each is finding ways to keep moving forward.

Vamos Q2 2025: Growth Meets High Costs

Vamos reported net profit of R$92.8 million ($16 million), a sharp 34% drop from last year. The main reason is higher financial expenses, which reached R$662.4 million ($116 million), up from a lower figure the previous year.

Net revenue, though, grew 17% to R$1.41 billion ($247 million), as demand for rentals and sales of used equipment stayed strong.

Operating expenses fell to R$100 million ($18 million), but higher interest rates and debt levels meant gains from sales and fleet growth were partly offset.

Adjusted EBITDA rose 2% to R$896.3 million ($157 million), and total EBITDA was R$911.1 million ($160 million), a 14% increase. Meanwhile, the company expanded its rental fleet to 52,544 vehicles, up from 50,384 a year earlier.

Management revised its outlook for 2025, lowering profit and capital spending targets while raising asset sale projections. The company now expects net income of R$300-450 million ($53-79 million), down from previous guidance, and EBITDA between R$3.5-3.9 billion ($614-684 million), also lower than before.

The real story here is about resilience in the face of rising borrowing costs and economic uncertainty: Vamos is still growing, but financial pressure is forcing it to tighten spending and focus on its core operations.

Grupo SBF Q2 2025: Sales Up, Profits Down

Grupo SBF’s net profit fell 80% to R$46.4 million ($8 million), far below its R$229 million ($40 million) result a year earlier. Revenue climbed 6% to R$1.81 billion ($318 million), with in-store and online sales rising 10.6%.

Centauro stores delivered R$940.7 million ($166 million) in revenue, and sales of shoes and clothing both grew more than 13%. Despite higher sales, profit margins shrank as selling expenses jumped to R$596.9 million ($105 million).

Total operating expenses reached R$787.4 million ($139 million). Financial results turned negative, from a R$75.2 million ($13 million) gain a year ago to a R$117.1 million ($21 million) loss this quarter.

Grupo SBF reduced net debt by 33% to R$506.1 million ($89 million), improving its leverage ratio. Adjusted EBITDA was R$242.8 million ($43 million), and consolidated EBITDA was R$213 million ($37 million), both slightly down from last year.

The underlying story is clear: the retailer is growing and managing its debt, but higher costs and tougher competition ate into profits. Grupo SBF must now rely on operational discipline and digital reach to protect its business despite the market squeeze.

Lojas Quero-Quero Q2 2025: Losses Narrow, Cautious Growth Continues

Lojas Quero-Quero’s net loss narrowed to R$46 million ($8 million) from R$56.4 million ($9.9 million) a year ago, as revenue grew 4.6% to R$760.7 million ($133 million).

Stronger financial income and lower operating expenses—down 8.7% to R$221.2 million ($39 million)—helped the company contain losses. EBITDA rose 144% to R$29 million ($5 million), pulling the margin up to 4.3%.

But adjusted EBITDA, which excludes one-time costs, dropped to R$2.9 million ($509,000) as the company paid for stock incentives and closed underperforming stores.

The quarter ended with 579 stores, up 3% from a year earlier, but net debt climbed to R$396.5 million ($70 million) from R$332.5 million ($58 million), pushing up leverage.

Quero-Quero is expanding its footprint and cutting costs, but still faces losses due to high interest rates and restructuring expenses.

The company continues to invest in new stores while focusing on financial prudence—a two-track strategy that reflects the cautious mood of Brazil’s retail sector.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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