SAO PAULO, Nov 11 (Reuters) - Brazilian retailer Magazine
Luiza on Thursday posted a sharp decrease in its
third-quarter profit as higher interest rates and inflation
weighed on the purchase of durable goods, the company said.
Its recurring net income plummeted to 22.6 million reais
($4.18 million) from 216 million reais a year earlier. Still,
total sales rose 12%, to 13.8 billion reais.
($1 = 5.4021 reais)
(Reporting by Aluisio Alves, writing by Carolina Mandl; Editing
by Christian Plumb and Chris Reese)