Guararapes (RIAA3), the parent company of Riachuelo, reported net income of R$ 84.9 million in 3Q26, up 61.3% from 3Q25. The net margin was 3.4%, versus 2.2% a year earlier. The company attributes the result to growth in Apparel sales and margin gains.
Consolidated net revenue totaled R$ 2.5 billion (R$ 2,506.1 million), up 3.5%. Consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) was R$ 405.4 million, up 7.9%, with a margin of 16.2%, 0.7 percentage point above 3Q25. The 3Q25 figures exclude Midway Mall, which was sold in December 2025.
In Apparel, net revenue was R$ 1.6 billion, up 8.0%. Same-store sales (SSS) grew 6.5%, the 13th consecutive quarter of growth. The Apparel gross margin was 58.1%, up 0.8 percentage point. Merchandise EBITDA reached R$ 279.0 million, up 8.9%, with a margin of 15.4%.
In Financial Services, EBITDA was R$ 126.4 million, up 5.8%. The provision for loan losses (PDD) totaled R$ 336.5 million, up 20.3%. The over-90-day delinquency rate in the portfolio of up to 360 days was 19.4%, versus 17.7% in 3Q25. During the period, the company allocated R$ 30.0 million in JCP (interest on equity), or R$ 0.0597 per share.
In the first nine months of 2026, net income was R$ 257.8 million, up 98.3%. Over the last 12 months, net income reached R$ 560 million. Net debt was R$ 1.3 billion in September 2026, with leverage of 0.8x EBITDA. Capital expenditures (CAPEX) in 3Q26 were R$ 457.8 million.
