Restoque posts Q2 sales and EBITDA growth
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In an update about the second quarter trading, Restoque said, the company’s digital channel continued to grow at triple digits, reaching 44 million Brazilian real in sales, an increase of 113 percent representing 25 percent of sales in the b2c channel in the period.
The company’s sales in physical stores were 511 percent higher versus the second quarter of 2020, and 49 percent versus the first half period of FY20. During the month of May, Restoque’s b2c channel achieved a 4 percent same-store sales growth compared to 2019, with a positive performance in all the company’s brands in the apparel segment.
Review of Restoque’s second quarter performance
The company added that the b2b channel showed the biggest recovery among the channels with a 661 percent increase compared to the same period in 2020, driven by physical b2b growth of 751 percent and digital b2b growth of 421 percent. In the first six months, digital sales of the b2b channel represented 59 percent of the total channel growth compared to the same period in 2020.
The company’s b2c channel had a positive performance with growth of 319 percent in the second quarter and 45 percent versus six month period in 2020. Sales in physical stores were 511 percent higher in the second quarter and 29 percent up in the first half period.
Total sales through digital media exceeded 80 million Brazilian real in gross sales versus 79 million Brazilian real in the 12 month period of 2020. Digital sales grew 113 percent in the second quarter and 131 percent in the first half of 2021.
The company further said that in line with the movement to reduce inventories and leftovers adopted over the past quarters and with the strategic reduction in the total number of physical stores 17 stores, the outlets channel ended the quarter with 201 percent growth versus second quarter of 2020 and 37 percent in the first half of 2021.
Gross margin of the second quarter of 2021 grew 5 p.p. and the company reported an EBITDA growth of 30 million Brazilian real.