Restoque posts Q3 revenue growth of 26.3 percent

In the third quarter, Restoque’s gross revenue was 351.8 million Brazilian real, up 26.3 percent compared to the third quarter of 2021, despite a reduction in the store base of 15.7 percent compared to last year.

In the nine month period, the company’s gross sales reached 968.8 million Brazilian real, a growth of 31.9 percent in comparison to the nine month period of 2021 and 6.8 percent compared to the same period in 2019.

Highlights of Restoques’s Q3 results

The company’s gross margin in the quarter was 61 percent, an increase of 4.1p.p. compared to the same period in 2021 and remained above 60 percent.

Ebitda in the period was 55.5 million Brazilian real with a margin of 19.3 percent, surpassing second quarter level, which, until then, had presented the best result in this indicator in the last three years. In the nine month period, the Ebitda totalled 139.7 million Brazilian real, with a margin of 17.7 percent.

Consolidated same-store sales rose 32.3 percent compared to the third quarter of 2021 and 47 percent compared to 2019.

Review of Restoque’s performance across sales channels

The company’s ecommerce revenue was 32.1 million Brazilian real, growth of 25.1 percent and gross margin was 7.4 percent p..p. above in the same period.

In the b2c channel, gross revenue was 228.4 million Brazilian real, delivering a gross margin of 70.8 percent, 1.6p.p. higher than 2021. The same store sales grew 32.3 percent in comparison to 2021 and 47 percent compared to 2019, with relevant results in most brands. Dudalina sales reached 42.2 percent in comparison to 2021 and 55.8 percent in comparison to 2019. The company ended the quarter with 186 stores including the outlets, with 16 closures done in the period.

B2b channel registered revenues of 103.5 million Brazilian real in the third quarter, up 67 percent in comparison to 2021. The company’s revenues reached 218.8 million Brazilian real in the nine month period, up 50.6 percent.

Outlets channel recorded gross revenue of 19.9 million Brazilian real, with a reduction of 37.4 percent compared to the third quarter of 2021. In the nine month period, sales totaled 59.9 million Brazilian real, down 23.2 percent. However, the channel’s gross margin was 40.1 percent, representing an increase of 27p.p. with a gross profit of 6 million Brazilian real, up 92.9 percent versus the third quarter of 2021.