Restoque Q2 net sales down, incurs net loss

Restoque reported a net loss of 12.8 million Brazilian real (4 million dollars) in the second quarter, reversing a net profit of 1.7 million Brazilian real (0.5 million dollars) in the same range last year. The company said end result of the company was impacted by the decrease in net sales, the increase in general and administrative expenses and an increase in financial expenses related to hedging operations.

During the quarter, net revenue totalled 283.1 million Brazilian real (90.5 million dollars), down 4.6 percent compared to the same quarter last year. During the period, the company saw sales grow only at John John brand by 21.7 percent and sales in ecommerce increased 35.9 percent. Other brands have closed the quarter with sales decline of 13.6 percent at Le Lis Blanc, 20.9 percent at Bo.Bô, 7.4 percent at Tea Rose and 3 percent at Dudalina.

Consolidated gross profit shrank 5.1 percent to 164.7 million Brazilian real (52.6 million dollars) and gross margin fell 0.3 percentage point to 58.2 percent. Earnings before interest, taxes, depreciation and amortization (EBITDA), the acronym in English) decreased 5.9 percent to 62 million Brazilian real (19.8 million dollars).

Picture:Restoque