1Q11 ResultsMay 16, 2011

2

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.”

Disclamer

3

IPO

Shares began trading on the

BM&FBovespa on May 2, 2011

Bovespa “dressed” as a Magazine

Luiza store

Example of the Campaign

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

Participation of retail investors

Historic Campaign: focus on education,

clarity and transparency

Incentives for employees

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

5

Corporate Structure

1 2

(1) JV with Itaú Unibanco

(2) JV with Cardif

100%50%40.55%100%

9.45%

6

Our Geographic Footprint

Distribution Center (8)

States with stores (604)

Cabedelo

Simões Filho

ContagemRibeirão Preto

LouveiraIbiporã

Navegantes

Caxias

604 stores in Brazil’s main regions (75% of GDP)

Acquisition in Aug/2010

South

Northeast

Mid-West

Southeast

7

History of proven growth with strong organic growth and

successful acquisitions

Continuous growth in adverse economic conditions

0.5 0.6 0.70.9

1.4

1.92.2

2.6

3.2

3.8

5.3

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

604

96111

127

174

253

351 346

391

455

444

Gross Operating Revenue - Retail (R$ billion) Total Number of Stores

CAGR of Gross Retail Revenue 2000-2010: 25.8%

8

Magazine Luiza Service

SOURCE: Exame Magazine, May 4, 2011

Magazine Luiza

was elected 5th

best service in

an Exame/IBRC

study

(May/2011)

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)

10

Accelerated Expansion

Growth in Number of Stores

+148 stores

Average Age of Stores

456

604

1Q10 1Q11

150

11

57 386

até 1 ano de 1 a 2 anos de 2 a 3 anos acima de 3 anos

11

High Growth Rates

Same Store Sales Growth (in %)

+58.2%

Internet Revenues (R$ MM)

28.7%21.7%

33.0%25.6%

1Q10 1Q11

Same Physical Stores Sales Growth Same Store Sales Growth

110

174

1Q10 1Q11

12

Significant participation of Luiza Card

Means of Payment (in %)

36%

12%

28%

24%

20%

1%

48%

31%

33%

10%

32%

26%

37% 36%20%

33%

13% 12%

1%

10%

27% 28%

48%

32%

23% 24% 31% 26%

Magazine Luiza (1Q10) Magazine Luiza (1TQ11) Lojas Maia (1Q11) Consolidated (1Q11)

Luiza Card CDC Third party cards Single Installment Sales/Down Payment

13

Above 50% Growth in Gross Revenues

Gross Revenue (R$ MM)

+51.6%

Net Revenue (R$ MM)

+50.5%

1,119 1,696

1Q10 1Q11

1,119941

1,416

1Q10 1Q11

14

Gross Income and Operating Expenses

Gross Income (R$ MM)

+38.6%

Operating Expenses (R$ MM)

+38.5%

339

470

36,0%33,2%

10,0%

20,0%

30,0%

40,0%

50,0%

60,0%

-

50

100

150

200

250

300

350

400

450

500

1Q10 1Q11

Gross Income Gross Margin

278

386

29,5%27,2%

10,0%

20,0%

30,0%

40,0%

50,0%

60,0%

-

50

100

150

200

250

300

350

400

450

1Q10 1Q11

Operating Expenses % of Net Revenue

15

EBITDA and Net Income

EBITDA (R$ MM)

+38.8%

Net Income (R$ MM)

+31.7%

60

84

6,4% 5,9%

0,0%

2,0%

4,0%

6,0%

8,0%

10,0%

12,0%

14,0%

16,0%

18,0%

20,0%

-

10

20

30

40

50

60

70

80

90

1Q10 1Q11

EBITDA EBITDA Margin

9

12

1,0% 0,9%

0,0%

0,5%

1,0%

1,5%

2,0%

2,5%

3,0%

3,5%

4,0%

4,5%

5,0%

-

2

4

6

8

10

12

14

1Q10 1Q11

Net Income Net Margin

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Luiza Card

Total Base (em mil)

+61.4%

86% of cards are

active

Interest-free

sales mostly with

the Luiza Card,

represent less than

15% of the

Company’s total

sales

+62.2%

Revenue (R$ MM)

2.146

3.463

1Q10 1TQ11

205 268

145218

390

715740

1,201

Luiza Card - ML + interestLuiza Card ML interest freePurchases with Luiza Card

17

Luizacred

Revenue (R$ MM) and PDD/Revenue (%) Portfolio (R$ MM) and PDD/Portfolio (%)

186

234

44,0%

41,9%

30,0%

35,0%

40,0%

45,0%

50,0%

55,0%

60,0%

-

50

100

150

200

250

1T10 1T11

RevenueProvision for non losses/Revenue

1.696

2.424

1,6%1,4%

0,0%

0,5%

1,0%

1,5%

2,0%

2,5%

3,0%

3,5%

4,0%

4,5%

5,0%

-

500

1.000

1.500

2.000

2.500

3.000

1T10 1T11Portfolio

Provision for non losses/Portfolio

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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