** Shares in Brazilian retailer Magazine Luiza (MGLU.SA) fall more than 10% on Friday after it reported first-quarter results
** Magazine Luiza posted an adjusted net profit of 11.2 million reais ($1.98 million) in the quarter ended on March 31, a 62.5% drop from a year earlier
** Analysts polled by LSEG expected a 21.4 million reais adjusted net profit
** High interest rates in Brazil impacted the retailer's businesses in the quarter, Magazine Luiza executive Vanessa Rossini tells Reuters
** Despite the more conservative stance on the broad consumer sector, Magazine Luiza's focus on profitability in the quarter was a highlight, according to analysts at Itau BBA
** Magazine Luiza is the biggest faller on Brazil's benchmark stock index Bovespa BMFBOVESPA:IBOV, which is up 0.3%
($1 = 5.6506 reais)